Fabrics and soft furnishings group SMD grew sales 7.0 per cent in 2014–15 as top line momentum continued for a third successive year.

Sales reached £21.8m in the year to end September, including export sales up 55 per cent to £1.7m. Profits declined on weaker gross margin and rising costs.

The privately owned Preston textiles supplier booked pre-tax earnings down 18 per cent to £891,174 as gross margin fell 90 basis points to 24.8 per cent.

Year end cash was constant at £1.4m with net debt rising to £3.7m (2014: £2.5m) at the 30th September balance sheet dateline.

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