A carpet manufacturer has reported a drop in sales and profit for its latest financial year.
Wilton Carpets, owned by Wylye Valley Holdings, saw total sales fall by 5% to £8m for the year ended 31 August 2024, down from £8.5m the previous year. Despite the decline in turnover, the company remained profitable, though pre-tax profit dropped to £301,000 from £515,000.
According to the company's report, the gross margin also slipped, falling from 41.6% to 39.7%. Year-end net assets were reported at £560,000, a decrease from £704,000 in the previous year.
The report did not elaborate on specific causes for the decline but confirmed the business has remained stable despite the reduction in both sales and margins.
Source: www.bigfurnituregroup.com