Furniture retailer Furniture Village has reported sales of almost £350m in year of a strong growth.

According to its latest filed accounts for the year ended June 2024, total sales were down £9.9m to £348.9m from £358.8m in 2023.

However, in a previous report, Furniture Village said order intake was up 3% on a like-for-like basis in 2024.

“Revenue in 2023 was inflated by the catch up of Covid related disruption in the previous year, so the two years are not directly comparable and the drop in revenue is therefore not reflective of the strength of the underlying trading performance,” the retailer added.

EBITDA resulted at £16.3m, up from £15.8m, while margin improved from 46% to 47.8%. The business ended the year with a cash balance of £40.6m, up from £35.2m.

The retailer produced an “even stronger trading performance last year with profits in the order of £12.35m, a record year outside the immediate post Covid period”.

“Whilst the troubles in the Middle East and Suez in particular caused a degree of disruption to deliveries, our supply chain and fulfilment teams were able to work smartly to contain the disruption to a minimum,” Furniture Village said.

Order intake over the first 29 weeks has shown a like-for-like increase of 9% against the prior period and believes demand will improve during the 2025 calendar year.

Charlie Harrison, Managing Director, previously commented: “Once again, we have demonstrated that it is possible to be profitable and cash generative yet still ‘do it properly’, as we say. We have no borrowings and no external shareholders, but sufficient funds to continue to grow organically by investing in new and existing stores as well as online.

“Throughout the years we have been very considered and deliberate in our expansion strategy and our plans are to continue to grow in a sensible, measured way, taking advantage of the right opportunities when they become available.”

Furniture Village recently announced that it has exchanged contracts on its largest store to date, in a prominent location adjacent to the M8 just to the west of Glasgow. This will be the brand’s 58th store, following on swiftly from the successful opening in December 2024 of its first store in Scotland, on Straiton Retail Park in Edinburgh. Read more.