Devol Kitchens Limited

PRINCIPAL ACTIVITY The principal activity of the company continued to be the design and wholesale supply of kitchen furniture and accessories. REVIEW OF BUSINESS deVOL Kitchens' turnover has followed the upward trajectory of prior years. Turnover of £37m in 2024 represents a 4% increase on £35.5m in 2023. Profit before tax has reduced to £4.7m in 2024 compared to £6.0m in 2023 but still follows a positive trend, which is consistent with prior years with the company investing in staff in anticipation of the future growth of the business. Net assets of the business have increased to £22.7m from £17.5m in 2023. Being awarded the Kings Award for Enterprise for International Trade was an honour that propelled the business into overdrive to ensure domestic and international sales continued to rise; the focus has been on introducing new ranges, such as the trade range, and products to global and national markets as well as streamlining processes and systems to allow greater efficiency. The trade range, allowing the purchase on unpainted cabinets, is still in its early stages of launch; however, demand has been optimistic. Investment in machinery and properties have been vital to ensure the orderbook level remains sustainable. Like prior years, human capital has also been integral to the running of deVOL Kitchens - the priority has been to keep staff morale high and therefore turnover rate low which has a direct impact on productivity. This has allowed the business to cross the 400-employee threshold by the end of the financial year, which has been necessary to match increased demand. This financial year has allowed deVOL to see the financial impact the new Bath showroom has made to the revenue figure; the results are impressive for the first year of operation. Along with the new showroom, capital has been invested into developing a new workshop that is now in use with a large proportion of the workforce under one roof, introducing a cohesive operational strategy. deVOL continues to reap the benefits from 'For the Love of Kitchens', a successful TV show with 2 seasons aired on the Magnolia Network owned by celebrity hosts, Chip and Joanna Gains, with the first episode having aired in 2021. Enhanced global recognition of the deVOL brand with the publishing of the well sought-after book 'The deVOL Kitchen' with renowned publishing group, Penguin, has certainly aided the brand.