Furniture supplier Baker Furniture has reported a decline in turnover as profit fell into the red.

According to its latest filed accounts for the year ended 31 March 2025, total sales fell 20.2% to £14.3m from £18m in 2024.

UK sales were down to £12.1m from £15.5m, while EU sales fell to £2.2m from £2.4m.

Pre-tax losses resulted at £222,000, down from its profit of £406,000 recorded in the previous year.

Stated within its report, Baker said: “The Company’s supply chain continued to be settled during the year enabling the gross margin to remain steady at 26%. Turnover, however, was severely affected by the abrupt cessation of trade with the Company’s largest customer. This, along with a continuing sluggishness in ongoing trade, has resulted in the further fall in turnover.

“Since the year end the company has successfully introduced several ranges into a number of other sizable furniture retailers. Costs have been reduced, and the exchange rate has improved meaning that the losses are not expected to be repeated.

“It should also be noted that, by reducing working capital, the Company improved its cash position by over a million pounds and had cash reserves at the year-end of just under half a million pounds.”