Flooring and furniture contractor Designer Contracts has reported a slight decline in sales as turnover remained close to £40m.
According to its latest filed accounts for the year ended 31 October 2022, total sales fell 4.7% to £38.8m from £40.6m in 2021. Pre-tax profit resulted at £96,000, down from £488,000 recorded the previous year.
Stated within its report, the company added that net assets of the business remained strong at £5.7m, with the board “optimistic about the future”.
“Due to the aftermath of Covid and new importing procedures following Brexit, we experienced some increased lead time for stock deliveries,” the business said.
“However, our ability to hold a significant stock inventory at our 110,000sqft distribution warehouse in Kettering has meant that we have been able to meet our customer’s requirements throughout this period.”
Peter Kelsey, managing director of Designer Contracts, commented: “Thanks to the commitment of our dedicated staff and our huge investment in stock, we have been able to take advantage of multiple opportunities since the start of this financial year and are delighted to say that we are trading well above last year and also ahead of our forecast.”