Home textiles supplier Cleland McIver has reported a decline in turnover and profit.

According to its latest filed accounts for the year ended 30 September 2024, total sales fell 5.6% to £75.8m from £80.3m in 2023.

Pre-tax profit resulted at £1.6m, down from £2.8m the previous year.

Stated within its report, the company, which supplies home furnishing retailer Dunelm, said: “Inflation and higher borrowing rates have increased pressure on consumers and businesses. Despite this, we have continued to invest in our product offering to offer Dunelm’s customers a more extensive range.

“Dunelm continue to open new stores across the UK, and we expect this to continue into the next financial year. With this in mind, we anticipate a return to turnover growth in 2025.

“During the year, we began the process of consolidating our three operational sites into one, purpose-built site. This has meant incurring exceptional costs outside of the business norm. These costs totalled £522k and have been reported separately in our financial statements. “As the project will run over two financial years, there will be further exceptional costs next financial year. Subsequent to the year end, the Company has completed the sale of one of the operational sites, the financial impact of this will be included in the results of the next financial year.”