An independent UK tile retailer and importer Al-has reported strong profits despite a drop in sales for the financial year ending 31 March 2024. Total sales fell by 7.4% to £36m from £38.9m in 2023, but pre-tax profit nearly doubled to £8.7m, up from £3.9m the previous year.
Photo: Al-Murad.
The company, Al-Murad, which operates 40 stores and 30 family-run franchises across the UK, stated that its performance was in line with expectations. It attributed the sales decline to a slowdown in DIY and home renovations following the pandemic. However, it maintained stable supply and selling prices due to stock availability, which improved overall gross margins.
Al-Murad continues to invest in store modernisation, logistics, IT projects, and marketing initiatives aimed at enhancing the customer experience. The company is also strengthening supplier relationships globally to source high-quality products at competitive prices.
Looking ahead, Al-Murad noted that trading performance has slowed since the year-end. Supply chain issues have led to significant increases in shipping and transportation costs, directly affecting gross margins. Despite these challenges, the company remains confident in its ability to navigate market conditions and maintain a strong product offering.
Source: www.bigfurnituregroup.com