Sales at a popular sofa chain have increased after it opened new stores across the UK.
Sofology, which has a store on New Mersey Retail Park in Speke, achieved a revenue of £114.9m for the six months to December 26, 2021, up from the £112.6m it posted for the same period in 2020. The DFS owned chain said its gross profits slipped from £59.6m to £55.8m after an increase in selling and distribution costs, reports Business Live.
Over the same six months, group revenue fell from £572.6m to £561.1m while its EBITDA (earnings before interest, taxes, depreciation, and amortization) was cut from £134.6m to £80.1m. Group pre-tax profits were also slashed from £72.1m to £21.6m.
