INDEPENDENTS

Aldiss order pipeline £0.9m ahead; Profits return expected

4th March 2010

The directors of one of the country's largest independent furniture retailers say it will return to profit this year, after a 9.6% turnover fall contributed to it making a loss in the 12 months to 3rd October.

Aldiss, which has stores in Fakenham and Norwich spanning close to a combined 100,000sq ft, made a pre tax loss of £37,686 as sales slipped to £15.9m. Some of the sales shortfall was down to the 2008 closure of its fashion store, which has enabled the firm to concentrate efforts on its furniture business.

Revenue from discontinued operations were reported as being worth £0.93m in the year to October 2008.

However, the firm said that by the end of its financial year, its order book was some £862k ahead of the same stage the prior year, and though it expects tough trading conditions to continue, it hopes to make a profit.

The AIS member retailer's best return in recent years came in 2007, when it made a pre tax profit of £0.45m from sales of £18.3m.