Rugs supplier Flair Rugs has reported a growth in sales as turnover climbed towards £50m.

According to its latest filed accounts for the year ended 30 June 2023, total sales rose 14.5% to £47.1m from £41.1m in 2022.

UK sales rose 14.3% to £43m from £37.6m, while overseas revenues increased 14.2% from £3.5m to £4m.

Pre-tax profit resulted at £1.4m, up from £1m recorded the previous year.

Stated within its report, the company said: “Group turnover for the year increased by £5.9m with gross margin increasing by 1.6%, due to the slight easing in freight related inflationary pressures within the market. The main reason for the sales increase has come from the increase in spending in the homewares market.

“Overhead expenditure has been tightly controlled during the year, albeit overheads have increased due to costs such as the increase to the minimum wage, with a significant proportion of overheads linked to the increase in sales. The business continues to successfully grow with its existing relationships with customers and suppliers.”