Yorkshire-based furniture maker and retailer HSL has reported another growth in sales as turnover edged closer to £60m.

According to its latest filed accounts for the year ended 31 December 2023, total sales were up 4.6% to £57.3m from £54.8m in 2022, further adding to its growth of 10.6% from £49.5m in 2021.

Gross margins increased to 38.5% from 35.6%, while pre-tax profit resulted at £1.9m, up from £1.6m recorded the previous year.

Stated within its report, the company said: “The results above were achieved in the face of significant headwinds in the post pandemic economy, which include the war in Ukraine, high inflation and interest rates, dampening UK consumer confidence and a slow housing market.

“Having opened our new flagship Hendon showroom early in 2023, the group operated 54 showrooms throughout the rest of the year. Our Birmingham showroom was re-located to significantly improved premises at Brierley Hill.

“Product innovation gathered some great momentum over the year with the introduction of the Ascot, new Hypnos mattresses, heat across our core riser ranges, the Bramham and late in the year, the start of production of the new Knaresborough collection.

“2023 was a year of change and renewal in the board of directors. After seven years of service that included overseeing the expansion of our retail estate and steering the business through the pandemic, Guy Critchlow and Paul Roberts took the decision to leave the business in the first half of 2023.

“After 10 years’ service that saw him oversee the transformation of the group’s manufacturing capabilities, Kevin Wall took early retirement in summer 2023. Leanne Eastwood and Ben Waters, representing the third generation of the founding family, both stepped up onto an operational board now lead by Venessa Hodgson as Managing Director.

“The directors are pleased with the performance delivered during the year and are optimistic about prospects for 2024 and beyond.”