Sales and profit down at timber importer

Timber importer for the furniture and beds industry, Service Timber, has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 31 January 2023, total sales fell 2.9% to £35.7m from £36.8m in 2022.

Pre-tax profit amounted to £1.4m, down from a profit of £2.7m the previous year.

Stated within its report, the company said that despite the ongoing conflict in Ukraine, which has had an impact on global supply of timber, its strong relationships with suppliers have seen a continued supply of raw materials without impact on the business.

Service Timber supplies a number of industries including the furnishings sector for pine furniture, divan bases and ottoman bed sets, as well as garden furniture.

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