Flooring textiles manufacturer Phoenox Textiles has reported an uptick in sales and profit.

According to its latest filed accounts for the year ended 31 March 2024, total sales rose 4.3% to £20.3m from £19.4m in 2023.

Pre-tax profit resulted at £3m, up from £2.5m recorded in the previous year.

Stated within its report, the company said: “Sales have remained strong, with an increase in turnover of 4.3% from 2023.

“Despite industry wide pressures on costs, the company has been able to maintain its gross profit margin at 46.2%.

“Cash has remained strong at £5.5m. The company has continued to invest for future growth. The market remains challenging, but the directors are confident of future growth in coming years.”