Carpet supplier Asiatic Carpets has reported a growth in sales as turnover climbed towards £25m.
According to its latest filed accounts for the year ended 31 March 2022, total sales rose 11.9% to £24.4m from £21.8m in 2021. UK sales rose 21.6% to £21.9m from £18m, while EU sales declined 31% from £3.5m to £2.4m. Pre-tax profit resulted at £357,000, down from £3.8m recorded in the previous year.
Stated within its report, the company said that the sales growth was attributable to the increased demand in consumers implemented home improvements and furnishings as a result of higher levels of disposal income from lockdowns due to the Covid pandemic.
The business added that it made a £200,000 loss after tax due to a one-off loss in the write off of a loan to its subsidiary Neasden Studios Ltd.