Hull’s Ideal Heating has seen sales increase 15 per cent, taking turnover to £351.9 million.
Higher volumes were credited with the significant uplift, with major expansion of the National Avenue manufacturing facilities ongoing as it gears up to play a part in the greening up of the home heating. Operating profits were also buoyed in 2021, coming in at £66.5 million and sealing a further double-digit rise of 10.1 per cent, albeit with a slight squeeze on margins.
Direct cost rises and further investment in research and development contributed to the dip of 0.8 per cent, as the “business continues to focus on developing products for the changing heating market”.
