Sales down at family business while profit remains strong

Family furniture business Cousins Furniture has reported a slight decline in sales as profit remained consistently strong.

According to its latest filed accounts for the year ended 30 June 2023, total sales fell 7.8% to £16.4m from £17.8m in 2022.

Pre-tax profit resulted at £1.3m, inline with the same figure recorded in the previous year.

Stated within its report, Cousins said: “Sales order intake was down on the previous year, in part, because sales orders in year ending 30th June 2022 were inflated as a result of pent up demand, arising from the re-opening of the stores in April 2021, spilling over in to the start of year ending 30th June 2022.

“In the year to 30th June 2022, the well-publicised supply chain problems of; raw material shortages, shipping container delays and port congestion had an impact on deliveries to customers. The easing of these pressures in the year under review moderated the reduction in customer orders, to produce a decrease in delivered sales to customers of just under 8%.”

The company added that it continues to invest in its IT and other business systems, including its website, in order to “maintain and improve cost control and organisational efficiency that are seen as crucial to the future success and development of the business”.

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