UK market focus drives sales growth at Cult

Furniture retailer Cult has reported an increase in both turnover and profit.

According to its latest filed accounts for the year ended 30 September 2021, total sales rose 8% to £14.7m from £13.6m in 2020.

UK sales were up 21.6% to £12.9m from £10.6m, while EU sales fell 40% to £1.8m from £3m. Outside the EU, revenues also decreased from £52,000 to £14,000.

Gross profit rose from £6.5m to £6.9m, while pre-tax profit increased 30% to £943,000 from £725,000 recorded the previous year.

Stated within its report, the company said it continues to successfully attract new customers and expand in different markets, with the main focus being on the UK market.

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