Turnover drops by £2m but outlook remains upbeat

UK manufacturer of tables and chairs within the Education and Office sector, Metalliform, has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 30 June 2020, total sales fell 15.7% to £10.7m from £12.7m in 2019.

Gross profit declined from £6m to £4.8m, while pre-tax profit resulted at £537,000, down 51% compared to its profit of £1.1m the previous year.

Stated within its report, the company said that despite concerns surrounding the damage done to the UK economy during the Covid-19 pandemic, it remains confident that its customer base will continue to support its business and products.