Independent carpet and beds retailer Haylock Furnishings has reported a rise in turnover as ‘improvements’ in the general economy contributed to performance.
According to its latest filed accounts for the year ended 31 March 2016, total sales grew by 7.4% to £10.1m from £9.4m in 2015, with gross profit also registering an uptick of 11.9% to £2.8m from £2.5m.
The Bournemouth-based business, which trades under the name as The Carpet Barn and The Bed Store, said that gross margins remained consistent at 28.2% (27.1% in 2015), while also reporting that working capital had improved during the year, positioning the business with an opportunity of expansion if required.
Operating profit was slightly down by 9.8% to £879,694 from £975,510 last year, while overall profit for the period resulted in £654,506, lower from its profit of £899,905 in 2015.
Commenting within the report, the company said: “The directors are confident that the company will continue to trade at this level for the foreseeable future, while there are no particular changes planned for the immediate future.”
The Carpet Barn and The Bed Store, which has been established for over 35 years, has four stores across the South of England in Ferndown, Poole, Eastleigh and Fareham.