Flooring and furniture contractor Designer Contracts has reported an increase in sales as turnover surpassed £40m.
According to its latest filed accounts for the year ended 31 October 2023, total sales rose 15.3% to £44.7m from £38.8m in 2022. Pre-tax profit resulted at £1.4m, significantly improving from £96,000 recorded the previous year.
Stated within its report, the company added that net assets of the business also increased to £6.6m from £5.7m, with the board “optimistic about the future”.
“Whilst the housing market suffered with increasing interest rates in 2023, there still remains a strong demand for housing. Many of our customers have looked to incentivise purchasers with offers on flooring which has benefited our business, this is expected to continue in 2024.”
Peter Kelsey, managing director of Designer Contracts, commented: “Whilst the housing market suffered with increasing interest rates in 2023, there still remains a strong demand for housing. Many of our customers have looked to incentivise purchasers with offers on flooring which has benefited our business and this is expected to continue in 2024.
“Turnover growth is due to very competitive prices, driven by our huge stockholding, dedicated customer service teams and long-term stability. In reality we also have never seen so many competitors and customers go into administration, this is a sad but true reflection of 2023 and 2024”
