Furniture supplier Baker Furniture has reported a return to profit despite a decline in turnover.

According to its latest filed accounts for the year ended 31 March 2024, total sales fell 20% to £18m from £22.5m in 2023.

UK sales were down 15.7% to £15.5m from £18.4m, while EU sales fell 41.4% to £2.4m from £4.1m.

Pre-tax profit resulted at £406,000, improving from its loss of £359,000 recorded in the previous year.

Stated within its report, Baker said: “The company has continued to focus upon commercial ranges at competitive prices. Whilst the company’s supply chain settled down during the year, the effects of the cost-of-living crisis coupled with the inevitable slowdown in trade following the post Covid bubble resulted in a drop in turnover.

“The exchange rate was much improved upon the horrors of the previous year and the cost of carriage from the Far East eased back from the extreme costs of the previous year meaning that the Gross Margin was improved from 19% to 26%.”