Office furniture manufacturer Verco has reported a decrease in sales as losses widened.

According to its latest filed accounts for the year ended 31 December 2024, total sales fell 18.7% to £9.1m from £11.2m in 2023.

Company losses resulted at £1m, widening from its loss of £4,300 recorded the previous year.

Stated within its report, the company said that UK sales fell to £8.9m from £11m, while exports declined to £255,000 from £275,000.

“2024 was another challenging year. Ongoing geopolitical issues and “sticky” inflation issues continue to challenge margins and harass market confidence – ultimately resulting in lower demand for office furniture. This has had a significant impact on our trading, both in terms of sales revenues and supply chain disruptions and cost increases.

“In the face of these challenges the Company instigated a cost reduction programme towards the end of 2024 seeking to increase margins and reduce overheads. Workforce levels have reduced marginally through natural wastage as employees retire, and whilst we have capped capital investment for the short term, we have continued to invest in new products, and new marketing incentives for the future.”