Hypnos invests for the future
Royal Warrant holder and sustainable bed manufacturer, Hypnos, part of Keen and Toms Holdings, has shared an update on its 2018/19 group-wide financial performance, reporting strong investment, internal changes within the executive leadership team and a promising start to its new financial year.
Hypnos says that a number of external factors have played a part in what has been a difficult trading period for the group, yet its long-term strategy for growth and business improvement has driven strong investment, ensuring it is more than ready for an upturn.
Investment has included expanding its specialist home delivery business, Keen and Able, which has achieved a 5-star Trustpilot rating in its first two years of trading, and seen revenues increase significantly in the last 15 months.
Stephen Ward has announced his retirement after 13 years as CEO, and after eight months of profitable trading across all three areas of the group. The re-shuffle will see James Keen, the fifth-generation of his family, become CEO. Meanwhile John Woolley has stepped up into a new position as group MD, and will oversee the strategic and day-to-day development of both Hypnos and Hypnos Contract Beds.
John says: “This is an incredibly exciting time for both sides of our business as we continue to invest in innovative new sustainable designs and strengthen our sustainable credentials and actions. This includes our industry-first Origins Collection, created in partnership with Red Tractor.
“Of course, wider circumstances across the UK economy and our international markets make it a difficult environment to trade in, but with our long-term view and passion to continue our legacy as the pioneers in truly ethical and sustainable sleep solutions, we are in great shape as a business to tackle any market challenges.”