Gloucester-based manufacturer reports 150 per cent rise in profits
By James Young | 20th December 2019
A Gloucester-based family-founded business who are the UK's largest kitchen worktop e-retailer has reported a 150 per cent increase in profits in the past year.
Direct Online Services have reported a record of year in both sales and profits while also announcing a £5million internal investment plan.
Earnings before interest, tax, depreciation and amortisation is expected to be more than £4million in 2019, the company have reported.
The group has seen a 14 per cent increase in UK sales, as well as a 22 per cent increase in revenue for its German business.
Alongside the 2019 figures, Direct Online Services announced a £5million internal investment plan, consisting of a new building to fulfil capacity until 2023.
The firm also announcement an investment in new machinery, and £500,000 invested in bespoke software to be able to fulfil orders quicker and more efficiently.
Started in 2008 by father and son Martyn and Will Rees, Direct Online Services sells its range of kitchen furniture through specialist online worktop retailer Worktop Express.
More recently, the group diversified into solid wood kitchens and trade sales and owns a fleet of vehicles and showrooms throughout the UK.
In 2016, DOS received a £3m minority investment from BGF, the UK and Ireland's most active investor in growing businesses, to accelerate its expansion across the UK and Europe.
Since then, the business has grown its domestic capabilities as well as its hub in Germany.
Jon Shepherd, Managing Director of Direct Online Services, said: "I'm incredibly proud of these fantastic results, testament to the hard work and vision of the whole team here.
"In just 10 years, Direct Online Services has scaled up and diversified its offering, never once compromising on our founding values of providing high-quality products at affordable prices.
"As a forward-thinking company, one of our key priorities for the next 12 months will building the skills and expertise that we need in-house and investing in the technology to support them.
"Many of our employees have been with the company since it first began and investing in their future is an investment in ours."
Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.