AIREA plc, the UK design-led specialist flooring company, supplying both the UK and international markets, has reported its half year figures as sales declined.

According to its interim results for the six months ended 30 June 2024, total sales were down 5.6% to £9.3m from £9.8m in 2023.

Operating profit decreased to £0.2m from £0.8m, which has ‘heavily impacted’ by a slowdown in sales during the second quarter, investments for future growth and non-recurring costs associated with a new investment.

EBITDA resulted at £0.6m, down from £1.1m, while pre-tax losses amounted to £68,000 compared to its profit of £0.6m the previous year.

Martin Toogood, Non-Executive Chairman of AIREA plc, commented: “The year started well, with strong demand for our carbon-zero and low-carbon product ranges in the first quarter. The Group then experienced an unforeseen slowdown in the second quarter, with international sales impacted by ongoing economic and geopolitical concerns. UK and ROI sales were less impacted, performing slightly ahead of the overall market trend.

“The Group had an encouraging start to the third quarter, with positive trading in July and August finishing with a strong order book. We anticipate continued improvement in trading during the second half with several new product launches scheduled and the Group is trading in line with the Board’s recently revised expectations for the full year.

“The Board remains confident in the Group’s long-term prospects as we focus on successfully delivering the investment in our manufacturing facility in early 2025 and the ongoing transformation of the business, positioning it for profitable future growth.”