Office furniture manufacturer Verco has reported an increase in sales as losses narrowed.

According to its latest filed accounts for the year ended 31 December 2023, total sales rose 1.8% to £11.2m from £11m in 2022.

Pre-tax losses resulted at £4,322, narrowing from its loss of £254,000 recorded the previous year.

Stated within its report, the company said that UK sales rose 2.8% to £11m from £10.7m, while exports declined 9.5% to £275,000 from £304,000.

“The company has continued to make progress. We have retained our workforce levels, and have continued to invest in new machinery, new products, and new marketing incentives for the future.

“Looking forward, there is great optimism, and despite stuttering sales activity in the first half of the year, and ongoing uncertainty surrounding energy and raw material costs and supply chain concerns, the Board remain confident that the business is well placed to continue throughout this difficult and challenging economic period.”