Profits jumped strongly at London based rugs distributor Asiatic Carpets as sales output grew last year.

Year to end March profits reached £598k (2013: £4k) at the operating line as revenue jumped nearly 8 per cent to £10.6m.

Pre-tax profits — including almost £300k in interest and similar income — was more than twice as high at £879k.

Privately owned Asiatic generated a net £1.1m cash from operations and cut year-end net debt to £723k (2013: £1.3m) at the 31st March balance sheet dateline.