Fit-out furniture specialist delivers strong year despite decline

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.

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment