Furniture retailer Sofa.com, part of the Frasers Group, has reported a surge in sales as turnover jumped by £10m.
According to its latest filed accounts for the year ended 30 April 2022, total sales rose 27.8% to £45.4m from £35.5m in 2021. Pre-tax profit resulted at £6.2m, up 8.7% from £5.7m recorded in the previous year.
Stated within its report, the company said that despite a year of challenging market conditions affecting retail as a whole, it was “pleased with the performance” and saw continued growth in turnover, gross profit and operating profit.
“The company continues to make substantial investments in marketing to maintain its leading brand status. Detailed sales information by product and store is reviewed daily, enabling changes to product selection, incentive structures and advertising strategy to be made on a dynamic basis to optimise sales.”
During the year, the business reduced its employee numbers from 160 to 134, which was mainly across its warehouse and sales division. This lowered its wage bill by 17.1% from £3.5m to £2.9m over the period.