Flooring business grows UK and EU sales; US and AUS down

Flooring and wall cladding solutions provider Altro has reported another growth in sales but saw profit slip into the red.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 6.6% to £117.1m from £109.9m in 2021, further adding to its growth of 6.3% from £103.4m in 2020.

UK sales rose 67% to £80m from £74.1m, while EU sales increased 13% to £15.9m from £13.7m. US sales declined 11% to £12m from £12.3m, while Australia sales fell 6% to £3.6m from £6.8m. Rest of the world sales were up 3% to £5.4m from £2.8m.

Pre-tax losses resulted at £11,000, down from a profit of £6.7m year-on-year.

Stated within its report, the company said that the bottom line decrease was due to making a provision for amounts owed by group undertakings of £13.9m in response to the difficult trading conditions experienced by some of its principal trading subsidiaries.

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