Carpet manufacturer Cormar Carpets has reported a growth in profit despite a decline in turnover.

According to its latest filed accounts for the year ended 30 September 2024, total sales fell 2.7% to £143.8m from £147.7m in 2023.

Pre-tax profit resulted at £12.4m, up from £5.9m recorded against the previous year.

UK sales were down to £139m from £143.1m, while EU sales rose to £4.5m from £4.4m. Outside the EU, revenues decreased from £166,000 to £148,000.

Stated within its report, the company said sales were down due lower average selling prices, while gross margin improved by 6.6%pts as raw material procurement savings were buoyed by successful delivery of cost reduction programmes and strengthening of sterling in the second half of the year.

“The year saw a strong business performance by the company with demand for our carpet remaining robust throughout the year despite a very competitive environment.

“Stable raw material prices and dollar exchange rates as well as strong cost control and improved efficiency enabled us to maintain competitive prices to protect volumes.

“The business finished the year with a gross margin above its long-term average. This together with our recent successful product launches and our underlying emphasis on maintaining service and quality provides us with a degree of optimism for the year ahead.”