The UK division of US furniture and mattress components supplier Leggett & Platt has reported a slight decline in sales.

According to its latest filed accounts for the year ended 31 December 2023, total sales fell 1.3% to £59.1m from £59.9m in 2022.

UK sales fell 0.5% to £51.8m from £52.1m, while EU sales declined 20.7% to £6.1m from £7.7m. Rest of the world revenues stood at £1m.

Pre-tax profit resulted at £10m, up from £9.9m recorded the previous year.

Stated within its report, the company said: “Turnover showed a decrease on the previous year of 1.3%, as a result of pricing pressure from a reduction in material costs across the UK in 2023.

“Operating profit margin was 11% compared to 13% in 2022. This was driven by competitive pricing in the industry and material margin compression.”