Furniture import business Coach House has reported a slight decline in sales although turnover remained over £60m.
According to its latest filed accounts for the year ended 30 September 2022, total sales fell 0.7% to £63.4m from £63.9m in 2021. Revenues remained strong compared to its growth of 28.7% the prior year when sales stood at £49.7m in 2020.
Pre-tax profit resulted at £3.6m, down from £14.3m recorded in the previous year.
UK sales were down 0.3% to £55.6m from £55.8m, while EU sales were also down 3% to £5.8m from £6m. Outside the EU, revenues fell 9% to £1.9m from £2.1m.
Stated within its report, Chairs Limited, trading as Coach House, said that gross profit margin decreased from 38.6% to 25.7%. The company ended the period with finished goods valuing £33.2m, up from £17m the previous year.