Contract furnishings solutions supplier David Phillips 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 20% to £28.4m from £23.6m in 2023.

Pre-tax profit resulted at £2.3m, improving from a loss of £3m recorded in the previous year.

Stated within its report, the company said: “It is pleasing to report a second consecutive year of turnover growth, up 20% to £28.4m.

“This growth together with a 0.5 percentage point improvement in gross margin and tight cost control in challenging inflationary environment has led to a step change in underlying earnings. We report a net profit of £2.3m.”