Rugs supplier Flair Rugs has reported a growth in sales as turnover surpassed £40m.

According to its latest filed accounts for the year ended 30 June 2022, total sales rose 2.9% to £41.1m from £39.9m in 2021. Pre-tax profit resulted at £1m, down from £2.1m recorded the previous year.

UK sales rose 3% to £37.6m from £36.5m, while overseas revenues increased from £3.4m to £3.5m.

Stated within its report, the company said that gross margin deteriorated, decreasing by 3.95%, due to the ongoing inflationary pressures within the market.

“The main reason for the sales increase has come from the increase in spending in the homewares market,” the business added.