A UK kitchen furniture manufacturer has reported an 11.1% rise in turnover to £7m for the year ended 31 December 2024, up from £6.3m in 2023. Despite the growth, the company posted a pre-tax loss of £75,000, compared to a profit of £94,000 the previous year.
© Stoneham
Stoneham plc, which also produces furniture for utilities, media units, bedrooms, and studies, attributed its sales performance to a "strong sales order intake" during the first nine months of 2024. However, the business experienced a downturn in the final quarter due to weakened consumer confidence linked to "negative signalling" from the new government and concerns over public finances.
The firm noted a "reduced order intake" in late 2024, although demand has since shown signs of recovery. Looking ahead, Stoneham flagged that new employment-related costs introduced in the Autumn 2024 budget, including changes to National Insurance, the National Living Wage, and statutory Sick Pay, are expected to impact the business in 2025.
Despite the year-end loss, Stoneham remains cautiously optimistic, supported by its diversified product offering and early-year sales momentum.
Source: www.bigfurnituregroup.com
