Sales and profits declined for a third consecutive year at destination furniture and furnishings retailer Andersons of Inverurie in 2016–17.


Year to end October retail sales declined 3.0 percent to £10.8 million, with the privately-owned group's retail arm booking profits down 37 percent to £421,813.

The retailer, based northwest of Aberdeen and one of the UK's largest single-store businesses, also generates turnover at group level from property rentals.

Higher revenue from that softened the total revenue decline to 2.9 percent to £11.15 million, with consolidated net income down 25 percent to £670,557.

Its year-end drawn overdraft widened to £1.1 million (2016: £416,878) with the largest cash outflow reflected in the addition of £814,982 of unspecified freehold property.

Its negative working capital position widened, while total equity — which represents total assets less total liabilities — increased to £10.6 million (2016: £10.5m).

* unless specifically stated, figures are from consolidated group accounts