Interior and upholstery fabric specialist ILIV has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 30 September 2024, total sales fell 9.4% to £16.5m from £18.2m in 2023.

UK sales were down to £14.5m from £16m, while EU sales fell to £1.1m from £1.3m. Outside the EU, revenues declined from £861,000 to £775,000

Pre-tax profit resulted at £451,000, down from £840,000 recorded the previous year.

Stated within its report, the group said: “Gross margin decreased by 14.2% with the gross margin percentage decreasing from 37.6% to 35.6%, primarily due to increased investment in sampling and point-of-sale initiatives.

“The Group remains committed to investing in the ILIV brand through targeted promotional and marketing activities. This strategic approach is facilitating growth in both new export markets and UK sales channels, driving increased sales.”