Independent flooring wholesaler STS Flooring Distributors has reported a slight decline in turnover as sales remained strong.

According to its latest filed accounts for the year ended 31 December 2023, total sales fell 3.2% to £26.6m from £27.5m in 2022.

Pre-tax profit resulted at £55,000, down from its profit of £452,000 recorded the previous year. Gross margin was down by 0.2% to 25.9%.

Stated within its report, the company said: “The industry sector and flooring market have remained subdued in 2024, with commitments to expenditure on commercial projects and the cost of living affecting the residential market reducing overall activity levels.

“The company is, however, strategically developing and sourcing products through two key buying groups to increase market share and enhance its future profit levels.”