A flooring supplier has reported a downturn in trading, with all four of its key divisions recording reduced sales for the latest financial year. Combined turnover fell by 12.5% to £98.3m, down from £112.4m the previous year.
© Furlong Flooring
Furlong Flooring revealed in its accounts for the year ended 30 June 2024 that its Southern division saw sales drop by 9.8% to £29.2m, resulting in a pre-tax loss of £512,000 compared to a £523,000 profit in 2023. The Central division experienced a 12.9% decline in sales to £24.1m, posting a pre-tax loss of £985,000, down from a modest £2,000 profit.
In Wales, revenue fell by 6.4% to £16m, with pre-tax losses of £262,000, a reversal from a £206,000 profit the year before.
The group's Northern Irish manufacturing arm, Regency Carpet, also recorded a decline in sales of 17.6%, down to £29m from £35.2m. Despite the drop, it reported a higher pre-tax profit of £219,000, up from £131,000.
The company's overall financial performance highlights a challenging year across all operational areas, with losses replacing previous profits in most divisions despite cost controls and restructuring efforts.
Source: www.bigfurnituregroup.com