Furnishings textiles supplier grows turnover

Furnishings fabrics and wallcoverings supplier Osborne & Little has reported a growth in sales as turnover climbed towards £15m.

According to its latest filed accounts for the year ended 31 March 2022, total sales rose 7% to £14.8m from £13.9m in 2021.

Gross profit decreased from £6.5m to £6.1m, while pre-tax losses resulted at £132,000, slightly widening from a loss of £106,000 recorded the previous year.

Stated within its report, the company said UK sales rose to £5.5m from £4.5m, while EU sales suffered a significant decline from £4.8m to £653,000. This excluded sales to Germany, which resulted at £3m, while US sales rose to £4.5m from £3.5m.

“The gross profit of £6.1m was 41.3% of sales compared to 47.4% in the previous year. Had the EU sales been included in the company’s results, compared with the previous year, then the gross margin would have been 45.1%. The difference of 2.3% was due to import duties into the EU and the launch of new collections following a couple of years during Covid during which fewer new collections were launched,” the company added.

Save this article for later

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

Leave a Comment


Peter Harding, Managing Director at Fairway Furniture, shares a deeper insight into the ongoing refurbishment at their flagship Plymouth store....