Liverpool-based home furniture and décor interior design retailer Taskers has reported a decline in revenue although like-for-like sales improved and losses narrowed.
According to its latest filed accounts for the year ended 28 February 2025, total sales fell to £10m from £13.5m in 2024.
Pre-tax losses resulted at £1m, narrowing from a loss of £3m recorded the previous year.
Stated within its report, the company said: “During this financial period we saw growth in like for like sales. We have had a substantial rebrand and store refit which has fuelled this growth post period end where we have seen significant increases on the current year. This has further been achieved through refreshing the stock profile and regaining consumer confidence in our brand.
“Gross margin has decreased marginally from 35.3% to 34.9%. Like for like sales showed some growth fuelled by targeted promotions and better stock availability. Post year end we are seeing significant double digit growth and a further increase in margin. This is due to little discounting on stock items, an updated stock profile in line with trends and a return in customer confidence.
“Following the qualification of stock in the 2024 financial statements, a detailed stock count was performed during 2025 which confirmed a material discrepancy of stock shown in the 2024 financial statements. This amounted to c.£581k and a prior year adjustment has been made accordingly. There was a further one off provision made in the current period relating to obsolete stock following the CVA, closure of our Hunts Cross store and sale of our Wavertree property, which amounted to c£457k.
“During the reporting period we sold land at cur Wavertree site for a net £3m. The company used these funds to repay bank debt including the repayment of two loans and the reduction in our Mortgage as well as clearing the majority of our overdraft. This is expected to produce ongoing cash savings of more than £650,000 pa and improve profitability by more than £120,000. We have renewed our facilities with the bank during this process and the company continues to receive excellent support from our banker HSBC.
“The company’s main objective going forward is to ensure that the company returns to profitably and whilst the economic outlook remained difficult during this financial period we are confident that this can be achieved.”
