Online furniture group returns to profit

On-line retail group Purchase It Direct Ltd, proprietor of Furniture123.co.uk, has reported one other discount in gross sales however a return to revenue.

In line with its newest filed accounts for the 12 months ended 31 March 2024, whole gross sales fell 6.1% to £332.1m from £354m in 2023, including to its prior decline of 15.9% from £421.2m in 2022.

Pre-tax revenue resulted at £1m, enhancing from its lack of £13m year-on-year.

Acknowledged inside its report, the corporate stated: “Having accomplished its value base realignment and inventory discount programme within the first half of 2023, following the 2022 provide chain points, all elements of the enterprise continued to commerce profitability all through 2024.”