Fully assembled furniture manufacturer Welcome Furniture has reported a growth in sales and a return to profit.
According to its latest filed accounts for the year ended 31 March 2024, total sales rose 28.5% to £26.6m from £20.7m in 2023.
Pre-tax profit resulted at £284,000, significantly improving from its loss of £23,000 recorded the previous year.
Stated within its report, the company commented on its retail division: “The retail industry as a whole has suffered low consumer confidence throughout the year – largely the result of high interest rates. The Welcome team have worked closely with retailer partners to continue to innovate in efforts to capture as many opportunities as possible. Despite this, the sector has contracted in the 12 months.
“The outlook for 2025 is optimistic with Welcome ideally placed both in terms of working with multiple channels and continuing to offer a huge selection. Further growth year on year is expected in the drop ship model with the Welcome home delivery representatives offering fantastic levels of customer service and face to face experience.”
Welcome added that its contract division has delivered “phenomenal growth” and has become a “core pillar” of the brand. The company said: “As with the 2024 result, the 2025 pipeline is a testament to the hard work of the entire team with nearly £40m of works in discussions.
“There continues to be challenges facing the sector overall but, with Welcome’s ability to be agile with customer requirements and to scale project works quickly and effectively, the future is very positive indeed.”
