Colefax Group profits passed £5m as its fabrics and premium sofas businesses performed strongly in the year to end April.

The group — which owns brands including Colefax and Fowler, Cowtan and Tout, Jane Churchill, Manuel Canovas and Larsen — grew pre-tax profits by 3 per cent despite group revenue dipping 2 per cent to £76.8m.

Its Fabrics business was behind most of the earnings improvement, with sales up 3 per cent to £66.3m and profits by 28 per cent.

Sales at its upmarket — though small — Kingcome Sofas business were also healthy, rising 8 per cent to £2.45m with the division growing operating profit to £171k (2014: £24k).

Chairman David Green said: “Market conditions for high end furniture have continued to improve and we are exploring opportunities for this division to make a more significant contribution to the group's results.”

Colefax’s Interior Decorating division proved a drag on group performance, with sales down nearly 30 per cent to £8m and its £1m profit of the previous year worsening to a small six-figure loss.

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