Two-store retail business Cookes Furniture has announced a return to profit as it celebrates 70 years, with continued investment delivering ‘strong’ results.
According to its latest filed accounts for the year ended 31 March 2016, Cookes Furniture (Holdings) Limited posted sales of £9.5m – on par with 2015 – whilst also reporting a 5.8% growth in gross profit to £3.6m.
Recognised as one of the most well known independent furniture companies in the UK, the Midlands-based family-owned retailer saw pre-tax profit return to positive territory to £50,897, significantly up by 124.5% from its loss of £204,050 recorded last year.
Marking is 70th anniversary, Cookes said the milestone will be the ‘theme’ throughout this year, which has already seen the launch of its new children’s range back in April (pictured) and its new Duresta for Matthew Williamson collection in June. Cookes also confirmed that Hulsta Furniture is a new edition that hails from Europe enhancing its instore concessions.
During the year the company launched a new dimension of the business with Cookes Storage Service, which is ‘performing ahead of expectations’ and further ‘strengthens’ the Cookes brand, with sales of £18,994 contributing to overall performance.
Cookes was established in 1946 and continues to operate its two stores in Erdington, near Birmingham, and Christchurch, Dorset.