Fully assembled furniture manufacturer Welcome Furniture has reported a growth in profit as sales remained strong.
According to its latest filed accounts for the year ended 31 March 2022, total sales were down slightly to £21.8m from £23.6m in 2021.
Gross profit decreased from £8.4m to £7.4m, while pre-tax profit resulted at £445,000, up from £397,000 recorded the previous year.
Stated within its report, the company said retail sales grew year-on-year off the back of strategic partnerships within the online sector as well as continuously updating ranges, colours and styles to remain on trend. The contract market experienced a fall in volume due to the impact of the Covid pandemic. However, this is expected to return to pre-pandemic levels as demand increases.
Throughout the period, the business continued to invest in factory automation and development teams. This included the introduction of inhouse design teams to enhance customer experience and provide detailed CGI as part of its project process.
Furthermore, the company invested in an additional premises and manufacturing capability to offer more space and flexibility, as well as meet growing demand.
“Despite the current challenging market conditions, the outlook remains very positive for the company and its customers,” the business added.