Carpet manufacturer Abingdon Flooring has reported has reported a reduction in sales as turnover remained over £100m.

According to its latest filed accounts for the year ended 1 April 2023, total sales fell 6% to £104.7m from £111.9m in 2022.

Pre-tax profit resulted at £3.9m, down from £7.8m recorded in the previous year.

UK sales fell to £103.9m from £111.5m, while EU revenues increased from £380,000 to £816,000.

Stated within its report, the company said: “Revenue continued in similar fashion to 2022 showing a small reduction, however this was actually 4% better than expectations.

“The market in the second half of 2023 showed signs of a slowdown in against a buoyant year in 2022. Profit margins were significantly squeezed by continuing price pressures in the global supply chain and an overall reduction in throughput in our manufacturing facility compared to the previous year.

“The price pressures were specifically in our raw materials and the costs of getting them to the manufacturing facility in the UK. These began to ease in the final quarter.”