Soft furnishings supplier Rapport Home Furnishings has reported a reduction in sales but a growth in profit.

According to its latest filed accounts for the year ended 30 April 2022, turnover declined 9.6% to £4.7m from £5.2m in 2023.

Pre-tax profit resulted at £529,000, significantly improving from £45,000 recorded in the previous year.

Stated within its report, the company said: “The business has strategically invested to expand its UK warehouse infrastructure and capabilities. This significant investment aims to enhance its capacity to serve a growing ecommerce and omnichannel client base that demands automaton, real-time information and next-day order delivery. The company is positioning itself to become an industry leader in both e-commerce and nationwide store fulfilment, underscoring its commitment to innovation and customer service.

“Turnover for the period decreased, which remains below expectations, primarily due to ongoing shifts in the customer base and the pressures of the UK’s cost of living crisis. These factors have also impacted gross profit, as margins have been affected by the changing customer demographics.

“Despite these challenges, the company has continued to manage its administrative expenses effectively, contributing to a profit before tax (in relation to turnover) of 16%, a notable improvement compared to 1% in the previous year.

“The company has also increased its reserves by the year-end, and the directors remain satisfied with its overall position and strategic direction as it moves towards becoming a leader in the ecommerce and fulfilment sector.”