Furniture business Kingcome Sofas, part of the Colefax Group plc, has reported a growth in sales and profit.

According to its latest filed accounts for the year ended 30 April 2024, total sales rose 10.3% to £3.2m from £2.9m in 2023.

UK sales were up 11.9% to £2.8m from £2.5m, while EU revenues rose 25.2% to £387,000 from £309,000. USA sales registered £9,000, while rest of the world revenues totalled £13,000.

Pre-tax profit resulted at a record £419,000, up 75% from £240,000 recorded in the previous year.

Stated within its report, the company, which operates its London showroom on Fulham Road and its Devon workshop and showroom in Heathfield, said gross margin increased from 40% to 43%.

“The performance during the year was exceptional and primarily due to the significant reduction in the outstanding order book between the start of the year and the end of the year,” the company said.

“The reduction in the order book reflects productivity improvements resulting from a major investment in the freehold factory in the prior year. The order intake during the year was challenging with orders down by 14%. This was not unexpected given the impact of higher interest rates on the UK housing market and home spending.”