West Yorkshire supply firm Decorative Panels reported a third successive increase in sales for the financial year ended 31 March 2015.

The components and flatpack furniture kits specialist boosted its turnover by 6.87% to £88.1m from £82.4m in 2014.

Gross profit rose by 18.87% to £16.6m from £15.7m, resulting in total profit after tax coming in at a healthy £3.7m, an uptick of 5.7%.

A directors’ report included within the accounts summary stated that diversification into new product areas opened up new opportunities to enable growth.

The report concluded: “Despite the economy still being challenging the directors believe the business has again performed solidly. Financial forecasts for the next year continue to show strong profitability.”