money matters

Sale only one option being considered, says Betta Living

8th April 2013, 11:00am

Reports in the media over the weekend that furniture chain Betta Living had been put up for sale by its chairman Noel Dean have today been refuted.

Dean House Plc, owner of the Betta Living brand, has reported record year-end results to 20 November 2012, showing turnover up 22% to £29.9m and pre-tax profits up 44% to £1.5m.  

A spokesman confirmed that Dean House had appointed corporate finance advisory firm Rickitt Mitchell to "advise on the introduction of a potential investor or new trade partner to accelerate the growth of Betta Living", but that "sale was just one option, as well as investment and a new trade partner" being considered and that Dean was interested in "what was best for the company, not focused on selling."

Following the results announcement, Dean said: “The home improvement market has been through a torrid time but we have been able to grow our market share and develop our brand by maintaining customer service levels and controlling costs.
 
“We have started the current year extremely strongly, with web sales up by 30% and higher average order values.  In addition the new stores will greatly enhance our geographic presence and give us physical locations in areas where we already have very good internet demand.”

Betta Living was founded in Oldham in 1966 and specialises in the design, build and installation of fitted kitchens, bedrooms and – since March – bathrooms, and has 29 stores across the UK.



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