Fit-out contractor Thomas Johnstone, which also specialises in the manufacture of bespoke furniture, has reported a decline in sales.

According to its latest filed accounts for the year ended 31 December 2022, total sales fell 12.3% to £59.4m from £67.8m in 2021. However, the previous year, sales surged 76.1% from £38.5m in 2020.

Gross profit margin stood at 14.22% compared to 14.48% in 2021, while year end net assets rose in value from £4.7m to £5.3m.

Pre-tax profit resulted at £768,000, down from £2.2m recorded the previous year, and slightly down from £834,000 posted over a two-year comparison.

Stated within its report, the company said that it started the year with a strong order book despite inflation impacting wages and material prices, adding that its continuing focus on customer service and satisfaction was a large reason it was able to maximise on sales opportunities that became available.