Independent posts ‘rock-solid’ results despite uncertain market

Independent home furnishings retailer Fishpools has reported a slight decline in turnover.

According to its latest filed accounts for the year ended 2 February 2020, total sales were down 7.4% to £27.4m from £29.6m in 2019.

Gross profit reduced from £13.5m to £12.7m, while pre-tax profit resulted at £1.1m, down 38% compared to its profit of £1.8m the previous year.

Stated within its report, the company said sales were impacted due to consumer confidence issues surrounding the housing market and big ticket purchases resulting from Brexit.

“There have been numerous retail casualties, with previously solid household names struggling or ceasing to trade completely and for us to have again delivered a rock-solid set of results against this backdrop is a strong performance,” the business added.

During the period Fishpools continued to invest and refurbish large elements of its trading space, which is designed to offer its customers “an even better shopping experience”.