Yorkshire-based textile innovator James Robinson Fibres has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 30 June 2024, total sales dipped 16.6% to £21.5m from £25.8m in 2023.

UK sales fell 18.2% to £17.5m from £21.4m, while exports were also down by 11.3% to £3.9m from £4.4m.

Pre-tax profit resulted at £682,000, down from £855,000 recorded in the previous year.

Stated within its report, the company said: “The results for the year and the financial position are considered by the directors to be good considering the uncertainties and difficult market conditions that we have faced.

“Our Fibres & Fillings division maintained sales volume during the year, but this translated into reduced sales value due to lower global raw material prices. Increased freight costs have begun pushing fibre prices higher again, and we continue to maximise opportunities across a range of markets and territories.

“Sales in our Non-Woven division continued to grow, increasing 9% year-on-year, despite the challenging economic climate. We have continued our program of R&D, developing more eco-friendly foam replacement products for both our traditional markets and new prospects. The measures we took last year and the continued growth in sales enabled us to return the division to profit, as anticipated.

“The property business has continued to develop both commercial buildings and residential sites during the year and has secured a pipeline of new developments for the forthcoming year. Work has also commenced on a £750k program of redevelopment and modernisation of the offices, welfare space and warehousing at our Group head office site on Euroway Trading Estate in Bradford. The business continues to seek further opportunities for development in both the commercial and residential sectors.

“Post year end, the Group has invested further, creating a new engineering division, which will manufacture, service and repair, textile machinery for both our existing and new customers. This will create a new income stream for the Group, whilst giving continuity for our customers and securing the specialist engineering skills needed in our industry for years to come.”

Recently, James Robinson Fibres and Texfelt, part of the Yorkshire-based JR Group, have rebranded as Think Group as it sets in motion its ambition to revolutionise the fibres and fillings sector and diversify into new markets. Read more.