Specialist bedding fabric and textiles developer Redwood has reported a reduction in both top and bottom lines.
According to its latest filed accounts for the year ended 31 December 2021, total sales were down 7.1% to £12.9m from £13.9m in 2020.
Gross profit was marginally down from £4.9m to £4.3m, while pre-tax profit resulted at £1.3m, down 38% from £2.1m the previous year.
Stated within its report, the company said that the pandemic led to a temporary increased level in turnover during 2020, driven by additional work from increased demand for medical based products.
“As most of the contracts have been fulfilled, turnover has returned to historic levels”, the company added.