Profit boost for Barker & Stonehouse

Furniture chain Barker & Stonehouse saw a significant boost to its profitability in its past financial year.

The 12-store chain saw operating profits jump by 17% to £2.96m in the year to 29 March 2020 as sales dipped 3.2% to £75.06m.

Pre-tax profits rose from £1.834m to £2.022m as gross margin rose from 46.3% to 46.6%.

‘Turnover dropped slightly during the year, due to the global pandemic and culminating in the stores and warehouses being closed in March. Despite this, operating profit showed an increase of 17%. Gross margin has been maintained and cash has improved to just under £5m. The group disposed of the final legacy property in Teesside and the loss on that disposal is included in these accounts. In all circumstances, the directors consider the results to be satisfactory,’ says the accounts.

‘Since re-opening, post-lockdown, trade in all stores has been above that of last year, due to a degree of pent up demand. Despite this year’s unprecedented Covid situation, the company is up to date with its corporate PAYE, VAT, taxation liabilities and with all landlords. Our suppliers have also been paid on time throughout the year. Like many homewares businesses, the company has traded strongly since the year end despite the pandemic.

BarkerandStonehouseBattersea

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