A Northern Irish furniture wholesaler has reported improved financial results for the year ending 31 December 2024. Total sales increased 4.7% to £10.7m, up from £10.2m in 2023, while pre-tax profit rose to £110,000, reversing a £371,000 loss recorded the previous year.
© Annaghmore Agencies
The company, Annaghmore Agencies, reported a gross profit margin of 35.5% and year-end net assets of £4.47m. Annaghmore Agencies described its performance as satisfactory given "the current trading conditions," citing reduced disposable incomes and ongoing global events as challenges impacting the operating environment.
The directors emphasised a commitment to long-term shareholder value, focusing on expanding market share through organic growth. They noted that, despite the challenging year ahead, the company has demonstrated resilience and the ability to perform well under testing conditions.
Annaghmore Agencies' results indicate a stabilisation of its business, combining modest sales growth with a return to profitability, reflecting careful management and strategic focus on sustainable expansion.
Source: www.bigfurnituregroup.com
