Independent wall and floor tile importer and retailer Al-Murad has reported another strong year of revenues despite a slight decline in sales.

According to its latest filed accounts for the year ended 31 March 2024, total sales fell 7.4% to £36m from £38.9m in 2023.

Pre-tax profit resulted at £8.7m, up from £3.9m recorded the previous year.

Stated within its report, the company, which operates across 40 stores and 30 family run franchises throughout the UK, said: “The performance of the Company during the year has rationalised and is in line with expectations. The core turnover has decreased as DIY and home renovations surged during the pandemic. The company was able to maintain supply and selling prices due to readily available stock at its warehouse and as such improving the overall gross margin for the year.

“The Company continues to invest in modernising stores, logistical infrastructure, invest in significant IT projects, and marketing campaigns aimed at improving the customer experience. The Company continued in broadening its supplier relationships around the world sourcing the best quality products at the lowest price.

“The current trading performance has cooled down since the year end and the impact of the supply chain issues are coming to realisation with significant increases in costs of shipping and transportation which are having a direct impact on gross margin.

“However, the company has strong relationships with its global suppliers and will be able to navigate these challenges and continue to source and provide the best range of products for our customers.”