A UK flooring wholesaler, has reported a significant increase in both sales and profit for the financial year ended 31 July 2024. According to its latest filed accounts, total sales rose by 7.5% to £44.2m, up from £41.1m in 2023. Pre-tax profit surged by 333% to £1.1m, compared with £272,000 the previous year.
The company, Kellars, attributed the growth to increased investment in its market presence, including expansion of the sales team, as well as enhancements in product sampling, new ranges and display stands.
Kellars also recorded an improvement in gross profit margins, rising from 27.9% to 34.4%. In its report, the company commented that this progress was achieved despite "challenging market conditions due to the cost of living crisis and therefore reduced consumer spending".
It added: 'It cannot be underestimated how much of a great achievement it is for Kellars to achieve this growth... it really sets us up to reap further benefits of this success for the years to come and shows we are taking market share with our growth.'
The performance reflects a continued focus on strategic investment and market expansion, positioning Kellars to build on its momentum in the years ahead.
Source: www.bigfurnituregroup.com