Interior and upholstery fabric specialist ILIV has reported another growth in sales as turnover climbed towards £20m.

According to its latest filed accounts for the year ended 30 September 2023, total sales rose 6% to £18.2m from £17.1m in 2022, further adding to its growth of 22.8% from £13.9m in 2021.

Pre-tax profit resulted at £1.4m, more than doubling from £629,000 recorded the previous year.

UK sales rose 8% to £16m from £14.8m, while EU sales remained flat at £1.3m. Outside the EU, revenues declined from £1m to £861,000.

Stated within its report, the company said: “Gross margin increased by 19% with the gross margin percentage increasing from 33.5% to 37.6% as margins improved due to reduced freight costs and the strengthening in Sterling through the year.

“The group remains committed to investing in the ILIV brand through targeted promotional and marketing activity and this strategy is allowing new export markets and UK sales channels to increase sales volumes.”