Airea PLC on Thursday said it was well-placed for profitable growth, as it highlighted strong demand for it carbon-neutral and low-carbon product ranges.

The West Yorkshire-based flooring company said pretax profit sank to £63,000 in 2024 from £1.4 million in 2023.

Revenue edged up 0.6% to £21.2 million from £21.1 million.

Further, operating costs increased 1.2% to £20.0 million from £19.8 million.

Pertinently, the company reported costs of £911,000 from non-recurring items in 2024, compared to no such cost in 2023.

The firm said: ‘The year started well, with strong demand for our carbon-neutral and low-carbon product ranges in the first quarter. The group then experienced an unforeseen slowdown in the second quarter, with international sales impacted by the ongoing economic and geopolitical turbulence. The second half saw a strong recovery with the UK and Republic of Ireland delivering 4.5% growth and international markets growing by 11.8%.’

Airea declared a dividend of 0.60 pence per share, up 9.1% from 0.55p a year ago.

Looking ahead, Chair Martin Toogood said: ‘The investment in our manufacturing facility is nearing completion and along with the ongoing transformation of the business, the group is well placed for profitable future growth. These are exciting times for the group and the board remains confident in delivering long-term value for our shareholders.’

Airea shares fell 2.0% to 24.50 pence each on Thursday afternoon in London.

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