Reid improves margin following factory closure

1st May | retail | Reid Furniture returned an operating profit of £752,000 in the year to 28th June, a vast improvement on the £1.7m loss it posted the year before.

Accounts filed at Companies House reveal a turnover drop of almost £36m to £78.7m for the 33-store retailer, which mainly operates in Scotland and Ireland. It closed its Scottish manufacturing operation during the period.

The firm also lessened its exposure to the upholstery market by increasing the number of ranges of other furniture products.