ponsford store

Independent retailer benefits from pent-up demand as sales rise

Independent furniture retailer Ponsford has reported a growth in sales as turnover edged towards £10m.

According to its latest filed accounts for the year ended 31 July 2022, total sales rose 19.6% to £9.7m from £8.1m in 2021. Pre-tax profit resulted at £696,000, up from £418,000 recorded in the previous year.

Stated within its report, the company said that gross margin increased by 4.06% to 47.13% during the year, with the uptick in performance attributed to pent-up demand created by the impact of the Covid pandemic.

“While supply chain issues, currency fluctuations and fuel price increases continued to be a problem, careful planning and stock management led to a strong overall performance and the increase of margins,” Ponsford added.

“The company has invested heavily in significant upgrades to both the inside of the retail store and to the warehouse and logistics operations. This will continue to happen through the following years with particular attention to green and carbon reduction initiatives taking priory in order to reduce the carbon footprint of the business in a socially responsible way.”

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