Commercial furniture supplier Eclipse Furniture has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 31 December 2023, total sales fell 30.4% to £13.7m from £19.7m in 2022, marking a second straight decline from sales of £20m in 2021.

UK sales were down 30.7% from £19.2m to £13.3m, while EU sales declined 11.6% to £403,000 from £456,000. Rest of the world revenues were up 40% to £69,000 from £49,000.

Pre-tax profit resulted at £20,000, down from £1m recorded the previous year.

Stated within its report, the company said: “The past year has presented a number of challenges that have culminated in a noticeable decline in our revenue. This was partly due to a change in business direction at the end of 2022 driving a reduction in unprofitable revenue, and focusing on stabilisation in view of further growth in the years ahead.

“Post-pandemic trading conditions have continued to disrupt supply chains and consumer spending habits, leading to a reduced demand for our products and services. Additionally, the economic environment has been particularly difficult, with widespread uncertainty affecting market dynamics and consumer preferences.

“This, coupled with political instability, created a volatile business climate, shaking the confidence of both consumers and businesses alike. Together, these factors contributed to the downturn in revenue.

“Despite the past year’s challenges, we have seen a promising turnaround in our financial performance. Through good cost control, we have effectively navigated the high inflation pressures, optimising our operational expenses and mitigating some of the economic impacts.

“The introduction of new products has been met with enthusiasm from both existing and new customers, contributing to incremental revenue and diversifying our market presence.

“Additionally, improved stock control measures have led to a reduction in excess inventory and minimised carrying costs. These strategic initiatives have been instrumental in our ability to increase our profit margins back to more normal levels.

“As we continue to adapt and innovate, we are confident in our ability to sustain growth and profitability in the dynamic global market.”