Furniture and homewares retailer Oka has halved its operating losses from £568,425 to £257,186 in the year to December 31.
The retailer, co-founded by Prime Minister David Cameron’s mother-in-law Annabel Astor, experienced a 6% fall in revenue to £13.8m, as a result of the “continued economic uncertainty and the downturn in the economy”.
Oka said heavy snow in December and January hit sales as some of its stores had to close in the severe weather conditions.
However, it said sales in the second quarter of 2010 are showing “healthy” double digit increases, according to The Telegraph.
At EBITDA level Oka made a profit in the period, of £333,405, compared with a loss of £114,039 the year before.
Astor said the retailer expects to open further stores this year.