Sleepless nights at Silentnight

SILENTNIGHT'S takeover of troubled furniture business Cornwell Parker is still taking a heavy toll on the bedmaker's profits. While the group's beds business saw record profits, losses in the furniture division, which includes the Parker Knoll brand, dragged overall company earnings down 13% last year.

The enlarged furniture division reported a £3.2m loss on sales of £125m.

Chief executive Bill Simpson said he was 'disappointed' at the furniture performance. He said: 'The businesses we acquired late in 2000 are taking some time to integrate.'

Overall pre-tax profits in the year to 2 February were £12.1m compared with £13.9m a year previously on turnover of £300.3m against £230m before. The dividend is unchanged at 13.5p.