Rugs supplier Flair Rugs has reported another growth in sales as turnover reached £50m.

According to its latest filed accounts for the year ended 30 June 2024, total sales rose 7.7% to £50.7m from £47.1m in 2023, further adding to its growth of 14.5% from £41.1m in 2022.

UK sales rose 9.3% to £47m from £43m, while overseas revenues decreased 7.4% from £4m to £3.7m.

Pre-tax profit resulted at £2.7m, up from £1.4m recorded the previous year – also marking a consecutive year of growth.

Stated within its report, the company said: “Group turnover for the year increased by £3.6m with gross margin increasing by 2.1%, due to the slight easing in freight related inflationary pressures within the market. The main reason for the sales increase has come from the increase in spending in the homewares market.

“Overhead expenditure has been tightly controlled during the year, albeit overheads have increased due to costs such as the increase to the minimum wage, with a significant proportion of overheads linked to the increase in sales.”