Wallcoverings and upholstery fabrics supplier Romo Fabrics has reported a decline in sales but a growth in profit.

According to its latest filed accounts for the year ended 31 December 2024, total sales dipped 7.8% to £59.6m from £64.7m in 2023.

UK sales were down to £23.7m from £26.3m, while EU sales fell to £15.9m from £18.6m. Sales outside the EU increased to £20m from £19.7m.

Pre-tax profit resulted at £7m, up from £4.7m recorded the previous year.

Stated within its report, the company said: “During 2024, the Group has continued to make progress in the implementation of its strategy including the successful worldwide launch of new product collections for all brands. The business strategy is constantly reviewed by the Board in light of performance and the changing market to ensure that the strategy is appropriate for achieving the objectives.

“The economic climate in 2025 continues to be challenging and sales in a competitive market are slightly lower than 2024. This was expected and the Directors are mindful in managing costs to maintain profitability whilst also focusing on new product development. Sales of the new collections for 2025 have so far been encouraging and will assist the company in returning to sales growth soon.”