New launches expected to boost sales at upholstery fabric supplier

Wallcoverings and upholstery fabrics supplier Romo Fabrics has reported another growth in sales as turnover edged towards £70m.

According to its latest filed accounts for the year ended 31 December 2022, total sales rose 1.8% to £65.6m from £64.4m in 2021, adding to, but slowing from its previous growth of 17.5% from £54.8m in 2020.

UK sales were up 5.4% to £26.9m from £25.5m, while EU sales remained flat at £19.9m. Sales outside the EU decreased 1% to £19m from £19.2m.

Pre-tax profit resulted at £14.6m, significantly jumping from £1.5m recorded the previous year.

Stated within its report, the company said: “During 2022, the group has continued to make progress in the implementation of its strategy including the successful worldwide launch of new product collections for all brands.

“The cost-of-living crisis is impacting sales in early 2023, but the board remain positive that sales will pick up again with new launches, particularly the Romo Temperley collaboration which launched in March 2023 and has received a positive response in the market.”

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