Profits soar towards £100m while turnover climbs to £1.64bn at fourth-generation NI firm after £105m furniture group acquisition
W&R Barnett Holdings Ltd reported rising turnover and earnings as improved trading and its majority stake in Symphony Holdings boosted performance in the year to July 2025
Northern Ireland holding company W&R Barnett has reported a sharp rise in profits to nearly £100m in a year marked by a major acquisition in the furniture manufacturing sector.
Newly filed accounts for the year to 31 July 2025 show pre-tax profits at W&R Barnett Holdings Ltd increased from £66.9m to £98.6m, as turnover climbed from £1.57bn to £1.64bn.
The uplift in performance comes during a period of expansion for the fourth-generation family-owned group, which traces its roots back to 1896 as a Belfast grain merchant and has since evolved into an international commodities and industrial business.
A key driver of growth during the year was the group’s acquisition of a 60.04% stake in Symphony Holdings Ltd for £105.3m, completed in April 2025 through its subsidiary Ceres PH Ltd.
The Symphony Group, founded in 1971, manufactures fitted kitchen, bedroom and bathroom furniture and operates a portfolio of brands including Laura Ashley Fitted Furniture, Gallery, Linear, Koncept and Urbano.
Group turnover increased during the year due to higher volumes as well as the contribution from Symphony and its subsidiaries. Profitability was also boosted by improved trading conditions and margins, alongside a £20m gain from one-off asset sales.
W&R Barnett operates a diversified portfolio spanning commodity trading, agribusiness and industrial activities, with interests in areas including dry bulk commodities, derivatives, molasses, animal feed, packaging, furniture manufacturing and storage.
The group also maintains a long-standing partnership with Origin Enterprises plc, with a number of its businesses jointly owned between the two firms.
The latest results underline continued growth for the business as it expands both organically and through strategic acquisitions across its international operations.