Swedish kitchen furniture group Nobia has posted sales of SEK 3,215million for Q3, corresponding to 3% growth on the same period last year.

Changes in exchange range positively impacted operating profit by SEK 5million to SEK 228million from SEK 195million, which was an increase of 7.1% on Q3 in 2020.

Nobia reported its operating cash flow amounted to SEK 123million.

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The furniture group has manufacturing and sales in seven countries and is divided into Nordic, UK and Central Europe markets.

President and CEO of Nobia Jon Sintorn said the Nordic region delivered a “solid” result, and the group continued to grow organically in Central Europe but the market was “softer” in the UK.

He stated: “The Nordic and Central European kitchen markets remained strong following the underlying demand for home renovations.

“In the UK, shortage of installers and drivers resulted in softer market conditions than the trajectory from previous quarter and has not yet recovered.”

The group which includes Magnet, Rixonway, Commodore and CIE in the UK reported although Magnet Trade performed well Magnet retail and project sales declined.

Jon Sintorn stated: “We have over the past years strengthened our trade proposition which has given better traction in the market.

“As part of our strategy to revitalise retail we have reorganised our retail team in the quarter.

“Spearheaded by the new team we have launched a new brand proposition for Magnet and improved the digital experience, including a modernised website.

“In the London property market, we are seeing very few signs of recovery which continue to burden top line.”

Sintorn stated the trading period was characterised by supply chain disruptions and “significant” price increases of raw materials.

He stated: “We are working closely with our suppliers to safeguard availability but believe disruptions will continue in the short- to midterm.

“To compensate for the cost increases we have initiated market price increases which we expect to materialise in Q4.”

Nobia reported it was making “good” progress on its strategy agenda, including a new factory in Jönköping, Sweden, which is expected to be operational in 2024.

Sintorn added: “We still have much to do, but we are significantly accelerating on our journey.”