Wool traders and processors G. Modiano has reported a decline in sales as profit showed a slight increase.

According to its latest filed accounts for the year ended 31 March 2025, total sales fell 12.6% to £108.2m from £123.8m in 2024.

Sales in the EU accounted for £79.6m, declining from £87.2m, while revenues outside the EU fell to £28.5m from £36.5m.

Pre-tax profit resulted at £7.6m, up from £7.2m recorded in the previous year.

Stated within its report, the company said: “The group continued to invest in new equipment at our production facility in the Czech Republic, so that it remains efficient and competitive in the years to come.”