Upholstery manufacturer Lebus has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 31 December 2024, total sales fell 15.8% to £39.9m from £47.4m in 2023.

Pre-tax profit resulted at £318,000, down from £2m recorded the previous year. Margin decreased from 30.9% to 29.7%.

Stated within its report, the company said: “A significant change of ownership, strategy and store refurbishment of one of Lebus’ major customers resulted in turnover reducing to £39.9m. Increases to employment costs and raw materials resulted in a margin reduction to 29.7%.”