Independent retailer grows sales despite ‘difficult trading conditions’

Two-store independent furniture retailer Vale Furnishers has reported a growth in sales as turnover edged towards £6m.

According to its latest filed accounts for the year ended 31 July 2021, total sales rose 2.8% to £5.8m from £5.6m in 2020.

Gross profit remained static at £1.4m, while pre-tax profit increased 38% to £1.3m from £939,000 year-on-year.

Stated within its report, Vale Furnishers, which operates stores in Ash Vale and Farnham, said that operating margins increased from 16.18% to 23.3%. This included the sale of a trading asset, adding that the company continues to develop in line with expectations despite ‘difficult trading conditions’.

Looking ahead, Vale said: “The company will continue to try maintain their market share and has plans to develop the site from which the main trade is operated to offer greater customer opportunities to improve the company position in the market.”

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