Independent retailer grows sales by 51%

Independent furniture retailer Hatfields has reported a growth in turnover and profit.

According to its latest filed accounts for the year ended 31 March 2022, total sales rose 51% to £6.7m from £4.4m in 2021.

Gross profit increased from £1.9m to £2.9m, while pre-tax profit resulted at £365,000, up by 114% compared to its profit of £170,000 recorded the previous year.

Stated within its report, the company said that it had benefited from the ease of restrictions following the previous enforced lockdowns due to Covid-19, which had severely impacted the business.

“The three months following the reopening of retail (April through to June) were particularly buoyant. This was followed by a gradual levelling off in the proceeding months up to March 2022,” Hatfields said.

The company added that it remains focused on delivering an online trading platform within the financial year ahead to compliment its bricks and mortar operation.

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