Kitchen furniture manufacturer Stoneham Plc has reported flat sales as profit fell into the red.

According to its latest filed accounts for the year ended 31 December 2022, total sales remained flat at £6.5m. Pre-tax losses resulted at £128,000, down from a profit of £362,000 year-on-year.

Stated within its report, the company said that inflation on key materials and components was experienced throughout year, resulting in the business rising prices once more, adding to the two increases during 2021.

Stoneham, which also manufactures furniture for utility, media, bedrooms and studies, added that it has continued further investment in IT and manufacturing equipment throughout the year to bolster manufacturing flexibility and innovation.

Several new Stoneham appointed kitchen centres opened during the year, while its factory showroom was also renewed with a new display, décor and infrastructure.