The parent company of interior fit-out specialist Nuttall’s has reported a growth in profit but saw sales decline.
According to the latest filed accounts for The Alan Nuttall Partnership, to the year ended 31 December 2021, total sales fell 7% to £39.8m from £43.1m in 2020.
UK sales were down 28.5% to £22m from £30.8m, while export sales increased 44.7% to £17.8m from £12.3m.
Gross profit dipped from £14.5m to £14.1m, while pre-tax profit resulted at £3.5m, up by 12.9% compared to its profit of £3.1m recorded the previous year.
The group, which services include retail store fit outs with clients such as Amtico, Homebase and M&S under its Nuttall’s brand and heat display units through its Flexeserve brand, said that both businesses continued to build on their success achieved in the previous year.
Darren Emms, Finance Director, added: “For 2021, a turnover of £40m was achieved, built on strong customer relationships, newly diversified areas of business and continued development of new products, services and working processes.
“The partnership has made a very promising start to 2022 and in line with budgets. Indications are for another strong financial performance that will enhance the strength of the balance sheet and health of the partnership.”
The year ahead will also see Alan Nuttall step down from his role as Chairman and will assume the position of Founder.