The group behind adjustable beds and recliner chairs manufacturer Adjustamatic has reported a slight decline in turnover and profit.
According to its latest filed accounts for the year ended 31 December 2022, total sales fell 3.7% to £12.8m from £13.3m in 2021.
UK sales fell 2.3% to £12.6m from £12.9m, while EU revenues declined 33% to £188,000 from £281,000. Sales in the US were down to £31,000 from £39,000, while sales in Africa stood at £8,000 down from £24,000.
Pre-tax profit resulted at £246,000, down from £412,000 recorded the previous year.
Stated within its report, the company said that it started the year ‘progressively’ despite experiencing a number of ongoing issues including inflationary pressures, supply chain problems and shortages post Covid.
During the year, and as interest rates increased, the company sold its investment in property as a ‘good market value was achievable at this time’.