Manufacturers of kitchen and bathroom furniture, Mereway Kitchens, has reported a decline in turnover as sales dipped below £20m.
According to its latest filed accounts for the year ended 31 December 2019, total sales fell 4.7% to £19.4m from £20.4m in 2018.
Gross profit was down from £6.4m to £5.8m, while its pre-tax profit of £220,000 recorded the previous year, fell to a loss of £547,000.
Stated within its report, Mereway said that despite it being a “challenging” year, the business has continued to invest in the development and launch of new product ranges, which are expected to bear “significant results” ahead.
The company added that turnover moving into 2021 is showing “strong growth”.