An outdoor furniture supplier in the UK reported a 6.7% decline in sales for the year ending November 2024, with total revenue falling to £24.8m from £26.6m in 2023. Pre-tax profit also dropped sharply to £3.5m, down from £6.5m the previous year.
© Bramblecrest
Bramblecrest, trading under BDP Imports, attributed the sales decline to lower order volumes in 2024, affected by poor weather and shipping delays. The company noted that order volumes have "consolidated showing steady growth overall compared to pre pandemic" following a period of high demand during the Covid pandemic and subsequent excess stock levels.
High freight costs, driven by the Suez Canal closure, significantly impacted margins.
In March 2023, BDP Imports transitioned to employee ownership, with the founders selling 80% of the company to employees via a Trust. This move was designed to preserve the company's culture, reward staff, and ensure long-term stability.
Looking ahead, Bramblecrest reported an improving order book for the upcoming year despite the recent challenges.
Source: www.bigfurnituregroup.com
