Independent furniture retailer Barker and Stonehouse has reported a slight decline in turnover as sales remained close to £100m.

According to its latest filed accounts for the year ended 2 April 2023, total sales fell 2.9% to £94.8m from £97.6m in 2022.

Pre-tax profit resulted at £3m, down from £8m recorded in the previous year.

Stated within its report, Barker and Stonehouse said that the reduction in sales was due to the post Covid uptick playing out and before the full effects of the cost-of-living increase were felt.

Year end cash resulted at £6.8m, down from £12m, as the company continued to invest in fixed assets. Amongst this spend included over £5m on its new standalone store at the Metro Centre in Gateshead. A further £1.3m was spent on a new website too.

During the period, the company consolidated its business arrangement with Fenwick and has doubled its floorspace at Bentall’s in Kingston Upon Thames in the Autumn of 2023. It is also in the early stages of selling furniture on Next’s online marketplace.