Trade supplier of gifts, interior accessories and home furnishings to retailers, SIL, has reported an increase in sales.

According to its latest filed accounts for the year ended 31 December 2024, total sales rose 2.6% to £19.6m from £19.1m in 2023.

Pre-tax losses resulted at £2.1m, widening from a loss of £919,000 recorded the previous year.

Stated within its report, the group said: “This past year has presented significant challenges resulting in a loss. We are and have taken bold steps to address any inefficiencies and strengthen our position for long-term growth.

“The effect of dramatically increasing freight costs, due to the closure of the Suez Canal, had not been anticipated. We have therefore put in place a more robust product costing procedure. We have taken steps to reduce overheads and will continue to do so.

“We have reduced our holdings of slow-moving stock which has enabled us to reduce warehouse space.

“Our investment in new designs has led to an increase in sales of 13% in the period to September 2025 compared with the same period in 2024.”