Carpet manufacturer Cavalier has reported a decline in sales and profit.

According to its latest filed accounts for the year ended 31 December 2024, total sales fell 12% to £22.6m from £25.7m in 2023.

UK sales were down from £23.5m to £20.7m, while overseas revenues dipped to £1.8m from £2.2m.

Pre-tax profit resulted at £310,000, down from £1.3m recorded the previous year.

Stated within its report, the company said: “Trading was relatively slow in the final three quarters of 2024 as factors including persistent high rates of interest and high energy costs led to decreased disposable income in the economy and a falling levels of housing transactions.

“The Directors recognise that the market will continue to contract in 2025, due to the ongoing cost of living crisis, but remain optimistic that the company strategy of investing in the business will generate future growth.”