Scandinavian furniture manufacturer Ekornes, owner of the Stressless brand, has reported a decline in UK sales and profit.

According to its latest filed accounts for the year ended 31 December 2023, total sales within its UK division were down 19.9% to £23.3m from £29.1m in 2022.

Pre-tax profit resulted at £1m, down from £1.3m recorded the previous year.

Stated within its report, Ekornes said: “2023 saw a return to the normal cyclical pattern for revenue of peaks during sale periods and troughs whilst out of sale. This resulted in 2023 revenues dropping back (-20%) from the record levels during 2022 caused by the global pandemic, but still well above (+23%) those recorded in 2019.

“The uncertainty caused by the pandemic has resulted in a strong cost control mindset which has ensured the business continues to make a healthy profit despite the fall in revenue. The business was also able to generate a 3.5% improvement year on year in gross margin due to a strong focus on product mix. As the business continues to diversify its product portfolio, the challenge will be to maintain this margin improvement.”