Furnishings textiles supplier returns to profit

Furnishings fabrics and wallcoverings supplier Osborne & Little has reported flat sales while profit returned.

According to its latest filed accounts for the year ended 31 March 2023, total sales stood at £14.8m, in line with that of 2022.

Pre-tax profit resulted at £118,000, improving from a loss of £132,000 recorded the previous year.

UK sales fell to £5.2m from £5.5m, while EU sales declined from £653,000 to £545,000. This excluded sales to Germany, which resulted at £2.7m, while US sales rose to £5m from £4.5m.

Stated within its report, the company said: “The gross profit of £5.6m was 38% of sales compared to 41% in the previous year. The cost from suppliers increased significantly during the year and together with the mix of sales changing geographically resulted in a lower margin.

“The company increased new collections following the quieter trading years of Covid and the sampling related to the new launches also affected the margin.”

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