Flooring wholesaler posts sales growth; current trading mixed

Independent flooring wholesaler STS Flooring Distributors has reported another growth in turnover as sales edged towards £30m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 8.7% to £27.5m from £25.3m in 2021, adding to its previous growth of 10.6% from £22.8m in 2020.

Pre-tax profit resulted at £452,000, slightly down from its profit of £508,000 recorded the previous year. Gross margin was up by 1% to 26.1%.

Stated within its report, the company said business levels were ‘consistent with the previous year’ with much of the increase coming from ‘inflationary pressures in the market on raw materials’.

“The company experienced a good start to 2023, however a quieter second quarter, in line with the industry sector as a whole, resulting the company falling short of its original targets set for the first half of the year. The start to the second half has been promising with sales tracking original targets,” the business added.

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