Furniture retailer, Furniture Village reported strong sales figures for the financial year ending June 2024, with total sales nearing £350 million. Sales reached £348.9 million, down by £9.9 million from the previous year's £358.8 million. However, the retailer explained that the 2023 revenue was unusually high due to a catch-up following Covid-related disruptions, making comparisons between the two years challenging.
Furniture Village noted a 3% increase in order intake on a like-for-like basis in 2024, despite the slight sales decline. EBITDA rose to £16.3 million from £15.8 million, while the margin improved from 46% to 47.8%. The company ended the financial year with a cash balance of £40.6 million, up from £35.2 million.
The company highlighted that it achieved record profits of approximately £12.35 million, marking its strongest performance outside the immediate post-Covid period. Despite some disruptions caused by supply chain challenges linked to conflicts in the Middle East and the Suez region, Furniture Village's fulfilment teams managed to minimise the impact.
Looking ahead, the retailer reported a 9% increase in order intake over the first 29 weeks of the 2025 calendar year. Managing Director Charlie Harrison expressed confidence in continued growth, stating that the company remains profitable and cash generative without external shareholders or borrowings. He noted the brand's strategic expansion approach, focusing on organic growth through new and existing store investments.
The company recently announced plans to open its largest store yet near Glasgow, following the successful launch of its first Scottish store in Edinburgh in December 2024. The Glasgow store will be Furniture Village's 58th location.
Source: www.bigfurnituregroup.com