Net income for the fourth quarter ended December 31 was $105.5 M, down 2 per cent from $108m in the same period in 2020, according to the latest figures from 2021. Net income for the year was $402.4 million, up 59 percent from $253 million in 2020. 2021 said its sales were close to $5.1 BN, or $2.94 a share, up 19 per cent from $4.3 BN ($1.86 a share) in 2020. The company’s fourth quarter sales were $1.3 billion, up 13% from $1.2 billion a year earlier.

“We are pleased to have achieved record full-year results despite significant macro market challenges, including supply chain issues related to semiconductor shortages, foam chemicals shortages, available labour and transport challenges, and rising costs associated with these issues,”said Mitch Dolloff, president and Chief Executive of 2021. At the same time, we also achieved a record fourth quarter sales and solid operating results. While these challenges will persist, including inflation and the possibility of tighter monetary policy, we expect the situation to continue to improve in 2022 as the situation stabilizes.” The growth rate is 20% . The company attributed the increase to price increases related to raw materials. Overall sales were flat, with sales of specialty foams and US springs falling due to supply chain constraints, offsetting growth in the trade in adjustable beds, rods and wires and international bedding sales, the group said. Its acquisition of Kayfoam, an Irish bed linen maker, boosted sales by 2 per cent but was offset by a small divestiture. Annual sales in the furniture, flooring and textiles sector also rose 20 per cent to $1.6 BN. Sales of home furniture, work furniture and geological components were up 9 per cent.