Floorcoverings manufacturer Belysse, formerly known as Balta, has a decline in half year sales but did return to profit.
According to its latest trading update, total half year 2024 sales fell 7% to €144.7m from €155.6m in 2023.
Sales in Europe fell 7.8% to €68.8m from €74.7m, while revenues in the US also declined 6.2% to €75.9m from €81m.
Adjusted EBITDA resulted at €21.4m, improving from €12.2m, while profit for the period stood at €10.5m compared to a loss of €9.9m year-on-year.
Commenting on its performance, the group said: “Revenue for H1 2024 reflects continued lower marker demand in the European Residential business line as well as softer project-driven demands in the US in Q1 2024.
“Despite the overall softness in the market, H1 2024 Adjusted EBITDA has significantly improved as a result of improved profitability in both regions.”
