A furniture importer in the UK has reported a 14.7% drop in turnover to £49.9m for the year ended 30 September 2024, returning to revenue levels last seen in 2020. This compares to £58.5m in the previous year.
© Coach House
Coach House saw the decline in sales contributed to a pre-tax loss of £93,000, a sharp reversal from the £5.2m profit recorded in 2023.
UK sales fell 13.6% to £44.1m, while EU sales dropped 19.2% to £4.6m. Revenue from markets outside the EU declined 31% to £1.1m.
Despite the overall downturn, the company achieved a notable improvement in gross profit margin, rising from 31.73% to 37.7%.
Coach House did not provide detailed commentary in the report beyond the headline financials but appears to have managed cost efficiencies to mitigate some impact of reduced sales.
The results reflect broader pressures facing the furniture import sector, with volumes declining across key regions, though stronger margins suggest a more selective and possibly more profitable sales mix.
Source: www.bigfurnituregroup.com