Northern Ireland manufacturer of luxury carpets, Ulster Carpet, has reported a growth in sales as turnover climbed to £80m.

According to its latest filed accounts for the year ended 31 March 2023, total sales rose 17.4% to £79.9m from £68m in 2022.

Pre-tax profit resulted at £3.2m, down from £7.9m recorded in the previous year.

Stated within its report, the company said: “The year just past was pleasing. Global economic challenges continue, but we remain committed to a significant investment strategy with a particular focus on optimising our presence in premium markets.”

Ulster added that it is continuing its investment to rebuild capacity at its Portadown HQ with the full benefit to be realised during 2024. “We expect that with increasing numbers of high speed looms productivity and margins will improve,” the business said.