The UK division of French furniture and home decor company Maisons du Monde has reported a decline in turnover although profit returned to growth.
According to its latest filed accounts for the year ended 31 December 2022, total sales fell 39% to £9.2m from £15.1m in 2021. This marked a second consecutive year of declining revenues, adding to its prior fall of 5% from £15.9m in 2020.
Pre-tax profit resulted at £330,000, up from £86,000 year-on-year but was still down from its profit of £518,000 recorded over a two-year comparison.
Stated within its report, the company said that it has decided to cease its activities in the UK as of May 2023.
“After several years of market presence in the UK, Maisons du Monde has decided in Q2 2023 to shut down its operations in the UK,” Maisons said. “The group did not have a retail footprint in the country and therefore did not benefit from the same brand awareness. Sales in the UK, only online, represented just 1% of group sales in full-year 2022.”