Romo Fabrics, the wallcoverings and upholstery fabrics supplier, has reported higher profits despite a drop in annual sales.
© Romo Fabrics
For the year ending 31 December 2024, total sales fell 7.8% to £59.6m, down from £64.7m the previous year. UK sales decreased to £23.7m from £26.3m, while EU sales dropped to £15.9m from £18.6m. Sales outside the EU edged up to £20m from £19.7m.
Despite weaker revenues, pre-tax profit rose to £7m, compared with £4.7m in 2023. The company credited its performance to the successful launch of new product collections across all brands and careful cost management.
In its report, Romo said it continued to review its business strategy against market challenges and added that "sales of the new collections for 2025 have so far been encouraging and will assist the company in returning to sales growth soon."
The group acknowledged that trading conditions in 2025 remain competitive and that overall sales are slightly lower than in 2024, but directors remain focused on maintaining profitability while driving product development.
Source: www.bigfurnituregroup.com
