Small Irish gain for Norwegian furniture maker

Furniture manufacturer Ekornes, owner of the Stressless brand, has reported a slight decline in UK and Ireland sales as well as a loss before tax.

According to its latest filed accounts for the year ended 31 December 2019, total sales were down 4.3% to £17.8m from £18.6m in 2018.

UK sales were down 3.8% to £17.5m from £18.2m, while revenues in Ireland rose 2.7% to £373,000 from £363,000.

Gross profit increased from £3.3m to £3.6m, while its pre-tax profit of £200,000 recorded the previous year slipped to a loss of £93,000.

Stated within its report, Ekornes said that during the year it had consolidated its ranges from four to two, which resulted in migrating or closing some of the ‘Global and You’ accounts.

“This comes a somewhat of a cost, which negatively impacted margin and revenue,” Ekornes added, continuing: “Compacted by a very poor second half of the year, despite a successful sell in of some new products, which we will see results of in 2020.”