Hospitality industry furniture specialist Burgess Furniture has reported a growth in sales as losses narrowed.
According to its latest filed accounts for the year ended 31 December 2023, total sales rose 8.9% to £11m from £10.1m in 2022.
UK sales were up 47% to £5m from £3.4m, while rest of the world sales dipped 10.4% to £6m from £6.7m.
Pre-tax losses resulted at £568,000, narrowing from a loss of £914,000 recorded in the previous year.
Stated within its report, the company said: “The main reasons for the loss incurred is the hospitality industry’s after effects of the Covid-19 pandemic, the Russia, Ukraine issue, Red Sea conflict and the tighter financing conditions businesses faced at large.
“Management executed average 7.5% pay increase to all the staff as measure on retention of Burgess staff foreseen tighter labour market, which makes the recruitment a challenging task.”
