Independent furniture retailer Vale Furnishers has reported slight decline in sales as turnover remained over £8m.

According to its latest filed accounts for the year ended 31 July 2024, total sales fell to £8.4m from £8.6m in 2023.

Pre-tax profit resulted at £840,000, up from £404,000 recorded in the previous year.

Stated within its report, Vale Furnishers said: “The company continues to develop in line with the expectations of the directors and has performed well despite difficult trading conditions and has looked at other trading options to increase the revenue and margins.

“Turnover has decreased by 0.02% in 2024 which the directors are not overly concerned by based on the current market. They remain happy with the current strategy and product range, and believe performance will improve in the financial year to 31st July 2025, particularly bearing in mind the new initiatives.

“Trading margins remain under tight control, with management focus being on controlling administrative expenses as well as continued improvement in stock management but have slightly decreased between 2023 and 2024. However, despite this, administrative expenses have reduced in July 24 versus July 23. Operating profit has increased to £0.841m from £0.390m.

“At the year end the company had net current assets of £9.87m which is an increase versus the previous year (2023: £9.08m). Net assets of the business have increased from £20.34 to £20.94m which shows a strong balance sheet able to support future business growth.

“The company will continue to try maintain their market share and has plans to develop the site from which the main trade is operated to offer greater customer opportunities to improve the company position in the market.”