Kingcome Sofas, part of Colefax’s furniture division, has reported a decline in both sales and profit.
According to its latest filed accounts for the year ended 30 April 2020, total sales fell 11% to £2.4m from £2.7m in 2019.
Gross profit reduced from £1m to £858,000, while pre-tax profit resulted at £78,000, down from £212,000 recorded the previous year.
Stated within its report, the company said that it had enjoyed “strong trading for most of the year” but was impacted following the Covid-19 pandemic.
Sales in April alone were down 69%, which contributed towards the bulk of its overall top line reduction.
Since the year-end, sales have “steadily recovered” as it looks to continue this upward momentum moving forward.