Family furniture business Cousins Furniture has reported a decline in sales and profit.
According to its latest filed accounts for the year ended 30 June 2024, total sales fell 12% to £14.4m from £16.4m in 2023.
Pre-tax profit resulted at £863,000, down from £1.3m recorded in the previous year.
Stated within its report, Cousins said: “Sales order intake in the year was similar to the previous year, as distortions to consumer behaviour in previous years due to the imposition and subsequent easing of restrictions relating to the Covid pandemic fell out of all comparisons.
“In the year, delivered sales to customers were broadly reflective of the stabilised sales order intake but were down 12% on the previous year. However, deliveries in the previous year were inflated, following the easing of supply chain problems, namely; raw material shortages, shipping container delays and port congestion.
“Gross margin for the year has remained stable, showing a result of 48.16% this year, against 48.10% last year. The reduction in gross profit amount aligns with the reduction in overall sales this year.
“The company continues to invest in and develop its IT and other business systems, including its website, in order to maintain and improve cost control and organisational efficiency that are seen as crucial to the future success and development of the business.”
