Five-store independent furniture retailer Fairway Furniture has reported a slight decline in sales as turnover remained strong at over £9m.

According to its latest filed accounts for the year ended 31 January 2024, total sales fell 7.9% to £9.1m from £9.9m in 2023.

Pre-tax profit resulted at £0.3m, slightly down from £0.7m recorded the previous year.

Commenting on the results, Peter Harding, Managing Director, said: “While the reduction in turnover is disappointing, new business sales were significantly improved, up over 8% in the year, generating a strong order book to carry into the 2024-25 financial year.

“With major store refurbishments both underway and in planning for 2024 and beyond, as well as a dedicated and enthusiastic workforce, the business is well placed to continue its upwards trajectory.”