Ulster Carpets announce investment in Portadown and return to profit

The latest financial results from the global carpet manufacturer paint a positive picture after a number of pandemic hit years.

The accounts for 2021/22 show an increased turnover of over £14million which led to a rise in profits of over £5million.

Continued success in the US contract market and strong domestic retail sales have been supported by the group’s focus on diversification, with Danish carpet manufacturer, Danfloor, and unique runners and rugs company, Roger Oates Ltd, both performing well.

With strong activity in the UK and European contract markets and signs of recovery in the marine sector, the Portadown-based company is looking towards next year’s 85th anniversary with cautious optimism.

In his Chairman’s statement, Dr John Wilson, said: “Operations were appropriately reduced in response to the pandemic but with demand coming back strongly, 2022-23 will see a period of rebuilding capacity with the commissioning of new weaving technology in our Portadown headquarters and in our factory in the NE of England.

“It will take 12-18 months to really see the benefit of this investment and we expect profitability to be affected in the short term as we wait for new capacity to come on stream.”

He added, “While the pandemic has receded to a large degree, it will take another few years before it is finally behind us. The war in Ukraine, damage to global supply chains, energy costs and the strong inflationary wave passing through the world will make for challenging trading conditions in the year ahead. Nevertheless, the group is committed to retaining its status as a premium global woven carpet manufacturer.”

Established in 1938 in Portadown by George Walter Wilson, Ulster Carpets is still owned by the founder’s family and has grown to become the premier supplier of Axminster and Wilton carpets to the residential, hospitality, marine and casino sectors across the world.

Employing nearly 650 people worldwide, the company’s headquarters remain in Portadown, with further presence in the UK, Europe, Middle East and the USA.