Four-store luxury furniture retail and wholesale business Andrew Martin has reported another growth in sales and profit.

According to its latest filed accounts for the year ended 31 December 2023, total sales rose 9.6% to £23.9m from £21.8m in 2022, adding to its growth of 16.5% from £18.7m in 2021.

Pre-tax profit resulted at £1.2m, doubling from its profit of £609,000 recorded the previous year.

UK sales rose 13.9% to £21.3m from £18.7m, while US revenues increased 17.1% to £820,000 from £700,000. Sales in the EU declined 15% to £1.1m from £1.3m, while sales across the rest of the world fell 41% to £582,000 from £1m.

Within its divisions, furniture sales increased 11.4% to £20.5m from £18.4m, with fabric sales remaining flat at £3.3m.

Stated within its report, the company said: “Following the success of a significant review, cost savings combined with operational efficiencies are allowing the company to deliver the core product to its customers better than ever before.

“Despite the initial boom in furniture sales during Covid, the company has continued to grow post-pandemic and the objective in 2024 will be to continue on the path of sustainable growth despite wider market challenges.”