Furniture supplier Baker Furniture has reported a growth in turnover and profit.
According to its latest filed accounts for the year ended 27 March 2022, total sales rose 55.8% to £26.7m from £17.1m in 2021. UK sales were up 54% to £19.2m from £12.4m, while EU sales rose 57% to £7.4m from £4.7m. Pre-tax profit resulted at £1.2m, up from £680,000 recorded in the previous year.
Stated within its report, the company said it started the year with a significant outstanding order book and traded “very well” during the period as most stores experienced high levels of consumer demand.
“The supply of furniture from the Far East overall was smoother resulting in the company being able to fulfil this increased demand and therefore increase turnover significantly,” Baker Furniture said.
“Due to the erratic supply of furniture during the previous year the company consciously overbought stock in order to better fulfil customer orders resulting in the increase in stocks at the year end. The margin reduced (24% to 18.6%) due to the far higher costs of carriage.”