Furniture retailer Barker and Stonehouse increased sales by 13% in a year which saw the opening of its first store in London.
Latest accounts, for the year ended March 2014, show the Middlesbrough-headquartered firm grew turnover to £45.7m, a 13% rise on the previous period’s £40.2m, while operating profit rose at the same rate, from £1.5m to £1.7m.
Pre-tax profits meanwhile rose to £1.5m from £1.3m.
The firm, the UK’s biggest independent family-owned furniture retailer, had previously acquired an refurbished a retail unit in London’s Battersea, which opened in July.
The firm said it had been a tough year for the furniture trade but that its new London store was trading well and above target for the current year.
Subsequent to the balance sheet for the year ended March 2014 the firm also acquired land and planning permission for a store at Teesside Park in Stockton.
Managing director James Barker said: “As a Northern-born brand, opening our first London store last year was a significant occasion for us.
“We’ve been happy with what has been achieved in Battersea over the last 16 months and we’re thrilled at the wonderful response we’ve had by all those that have visited.
“We’re also confident that the investment in our new Stockton store will be a success in keeping our customers happy and our business buoyant.”
Covering 4,827sqm, the store is being built at the entrance to the Teesside Retail Park and is set to open in March 2015.
Mr Barker added: “The site provides an excellent location, allowing us to raise the bar and design a top quality, uniquely inspiring environment that customers will really enjoy visiting.”
Shareholder funds stood at £16.1m at the year end, an increase of £1m on the previous year and net debt had also been reduced from £4.46m to £3.57m.
Headcount also grew from an average of 254 employees to 284.