The group behind nonwoven fabrics supplier TechTex has reported a return to profit as sales remained over £20m.

According to its latest filed accounts for the year ended 30 November 2023, turnover decreased 1.9% to £20.6m from £21m in 2022.

Pre-tax profit resulted at £269,000, significantly improving from a loss of £3.3m. The group said gross profit margin increased to 20.6% from 10.1%.

Stated within its report, the company said: “Rising costs of raw materials and freight charges impacted significantly on the reported gross profit for the previous year.

“The company has continued to ‘streamline’ its sales base to concentrate on higher margin products and accounts. The benefits of this strategy have been recognised in the 2023 financial results.

“Continued investment in new plant and machinery is contributing to the ongoing improvement of efficiencies.”

TechTex group includes a division dedicated to furniture and bedding, where it sells products that are used in the manufacture of both mattresses and quilts, alongside various other industry sectors.