Sluggish return hinders progress at furniture business

Luxury furniture manufacturer and retailer The Sofa & Chair Company has reported a growth in sales and profit.

According to its latest filed accounts for the year ended 30 September 2022, total sales rose 30% to £14.3m from £11m in 2021.

Pre-tax profit resulted at £3m, significantly improving from its profit of £251,000 recorded the previous year.

UK sales were up 33.3% to £13.2m from £9.9m, while EU revenues fell 18.9% to £644,000 from £795,000. Rest of the world sales increased 44.7% to £537,000 from £371,000.

Stated within its report, the company said: “The results reflected an increase in consumer spending/confidence as the historic impact from the Covid-19 pandemic receded.

“That said, turnover was still below expectation with a rather sluggish return to normal patterns of trade (pre-pandemic).”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Nicolle Hockin, Managing Director at Devonshire Living, shares an insight into how the last 12 months have been at the business, future plans and top...