Carpet supplier Asiatic Carpets has reported a decline in sales but a return to profit growth.

According to its latest filed accounts for the year ended 31 March 2023, total sales fell 31.9% to £16.6m from £24.4m in 2022.

UK sales fell 24.6% to £16.5m from £21.9m, while there were no EU sales when compared to the previous year’s figure of £2.4m.

Pre-tax profit resulted at £3m, up from £357,000 recorded in the previous year.

Stated within its report, the company said: “The company’s turnover has seen a significant decrease from the previous year. This has been associated with the prior year being an exceptional year in terms of trading and this year’s turnover is more in line with the normal trading pattern of the company.

“The company has performed well against a backdrop of challenging business conditions and market uncertainty. Despite a decrease in turnover, the group has increased its gross profit margin and has ended the year with healthy profit and cashflow position.