Wholesaler posts revenues close to £200m

Furnishings wholesaler and third-party logistics specialist MH Star has reported a progress in gross sales as losses narrowed to beneath £10m.

In keeping with its newest filed accounts for the 12 months ended 31 December 2023, complete gross sales rose 10.2% to £183.8m from £166.7m in 2022.

Pre-tax losses resulted at £9.8m, narrowing from a lack of £12.6m recorded within the earlier 12 months.

Said inside its report, the corporate stated: “Key focus for the 12 months has been on increasing each the product vary and rising the variety of marketplaces by which the merchandise are offered.

“Throughout 2023, the corporate has taken alternatives to scale back warehouse capability by exercising the break clause for the St Neots warehouse and efficiently subletting the Bedford 3 unit.

“All inventory is situated within the different UK warehouses. No shares are saved at third-party logistics suppliers. The UK ecommerce market has bounced again within the second half.”