Bedroom furniture products importer FWG has reported a growth in turnover and profit.

According to its latest filed accounts for the year ended 31 March 2024, total sales rose 6.4% to £24.6m from £23.1m in 2023.

Pre-tax profit resulted at £650,000, improving from £69,000 recorded in the previous year.

Stated within its report, the company said: “With last year’s internal restructuring and with increased sales, FWG is pleased to report a strong performance for the year ended 31 March 2024.

“Restructuring the delivery operation, closing the London warehouse and refining operational headcount reduced operating costs for the year. This, combined with increased sales to core customers and the introduction of new customers, bodes well for increasing our customer base in the year ahead.

“2024’s report highlighted that shipping costs have stabilised. This has clearly helped control import costs and the business was not unduly impacted by the re-routing of vessels around the Cape due to issues in the Red Sea. However, since the year end, container costs have again begun to rise, in addition some availability issues have started to appear.

“Product costs have become less volatile over the period but staffing costs across the operation remain challenging. As compliance and retailer support requirements increase, further investment will be made to ensure we continue to provide the best possible support for our customers, meeting all obligations to the highest standard.

“Supporting various retailer promotions has further led to increased costs as consumers await promotional activity prior to purchase.

“Overall, the outlook for FWG remains strong and with further investment planned, the Directors are confident of a continued robust performance.”