Merseyside-based furniture business Taskers has reported a third successive year of turnover growth, as its newest store opening contributed to an increase in underlying sales.
The family-owned firm, which operates two furniture and DIY stores in Aintree and Wavertree and two lighting and accessories specialist outlets in Formby and Heswall, opened its fifth outlet in Hunts Cross, South Liverpool, which is almost 90,000sq ft.
According to its latest filed accounts for the year ended 29 February 2016, Taskers registered an 11.1% uptick in sales to £19.1m from £17.2m recorded last year. Operating profit also experienced an increase, up by 19.1% to £8.1m from £6.8m, whilst overall profit for the year resulted in £363,026.
Taskers said that its new South Liverpool site, which created more than 70 new jobs, enabled the business to save on costs due to economies of scale through ‘stock purchasing, faster stock turn, rationalisation of staffing levels and shared overheads’.
Praising its staff on continuing to provide another year of growth, Taskers also enhanced its customer experience by introducing ‘new sales systems’ offering ‘additional services’, although stated that it faces a ‘challenging’ year ahead to replicate the growth following its ‘substantial’ investment in the new store.
However, Taskers indicated that it will ‘focus’ to maximise profits and forecasts for 2016/17 to ensure the company is inline to achieve further growth.