Flexible foam solutions provider The Vita Group has reported a decline in sales as well as a loss.

According to its latest filed unaudited accounts for the year ended 31 December 2024, total sales fell 28% to £123.5m from £171.6m in 2023.

UK sales were down 28% to £96.3m from £134m, while EU sales decreased 32% to £22.1m from £32.6m. Rest of the world revenues rose to £5m from £4.9m.

Pre-tax losses resulted at £2.8m, down from a profit of £5.4m recorded the previous year.

Stated within its report, the group said: “After a challenging period across 2022-23, the Company has seen continued weakness in most of its key markets in 2024. Cost-of-living, high inflation and high interest rates have constrained consumer spending and while the pressure of high interest rates on consumer demand is beginning to ease gradually, this is taking longer than most economic forecasts predicted.

“The Company has demonstrated rapid and effective cost control in responding to the market conditions, flexing the cost base (including reducing the site footprint) to partly mitigate the impact of lower volumes on EBITDA. These efforts will deliver run-rating benefits in 2025, with further strategic projects planned to deliver EBITDA growth.

“The outlook for 2025 is not one of swift market recovery. The Company has budgeted for flat volumes YoY with a focus on cost reduction and strategic projects to drive EBITDA growth in the year ahead.”