Norfolk department store group maintains top and bottom growth

The parent company of Holt-based home furnishings department store retailer Bakers & Larners has reported a growth in turnover as sales edged over £20m.

According to its latest filed accounts for the year ended 28 February 2023, total sales rose 6.1% to £20.8m from £19.6m in 2022, adding to its growth of 20.2% from £16.3m in 2021.

Pre-tax profit resulted at £1.3m, up by 8.3% from £1.2m on the previous year, marking another consecutive year of bottom line growth.

Stated within its report, the company said it was pleased with its overall performance despite the ongoing impact of the Ukraine conflict causing high levels of inflation.

“With regards to cash flow, the directors are pleased to report a £631,000 increase in the year resulting in £1.9m of cash. This increase is after having repaid bank loans of £240,000 and leaves the group in a strong position to reinvest,” the company added.

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