Furniture supplier grows top and bottom lines

Furniture manufacturer and supplier Balmoral Furniture has reported a growth in sales and profit.

According to its latest filed accounts for the year ended 31 March 2022, total sales rose 25% to £8.7m from £6.9m in 2021.

Gross profit increased from £1.8m to £2.7m, while pre-tax profit resulted at £312,000, up from £95,000 recorded the previous year.

Stated within its report, Moffett and Sons Ltd, trading as Balmoral Furniture, Balmoral Contracts and Moffett & Sons Education, said the easing of restrictions related to Covid-19 supported its growth in performance.

Looking ahead, the company added: “Our turnover in the next financial year continues to be impacted by the war in Ukraine and economic uncertainty. Although we anticipate that turnover will increase, we expect that, with continued control over our overheads and raw material costs, a break-even position will be achieved.”

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