Privately-owned furniture and department store retailer Collingwood Batchellor doubled profits in 2014–15 with strong growth enjoyed at its refurbished Worthing store.

Lower costs and higher sales combined helped the Surrey, Kent and Sussex retailer generate profits of £734,973 (2014: £363,430) in the year to end January.

Group sales at the home counties retailer increased by 2.8 per cent to £9.4m, with its former HG Scadgell store at Worthing’s Montague Street—acquired back in 2011—growing turnover by over 40 per cent to £1.5m.

Collingwood Batchellor’s other stores are located at Horley, Haslemere, Haywards Heath, Horsham and Tunbridge Wells.

Gross margin declined by 180 basis points to 48.5 per cent though higher sales and a drop in administrative expenses—which fell to 39.7 per cent of turnover (2014: 42.8pc)—contributed to its improved earnings.

The business generated a net £962,518 cash from operations (2014: £878,168), cut year-end net debt to £285,025 (2014: £565,434) and ended the period with cash and equivalents of £1.8m (2014: £1.6m).