Fitted office furniture supplier Frem Group has reported a decline in turnover as well as a loss.

According to its latest filed accounts for the year ended 31 December 2024, total sales fell 18.6% to £7.4m from £9.1m in 2023.

Pre-tax losses resulted at £306,000, down from a profit of £357,000 recorded in the previous year.

Stated within its report, the company said: “Group turnover has reduced by £1.6m compared to the previous year.

“The reduction in group turnover results from challenging trading conditions, and the continued impact of group restructuring whereby certain subsidiary companies are now classed as associates and are thus excluded from consolidation except as under equity accounting principles.

“During the year the group acquired a further 7.5% holding in an associate, Race Furniture Limited.”