Oliver Bonas has issued a growth warning. (Photo by Belinda Jiao/Getty Images)

Oliver Bonas has warned the outlook for the UK economy is “not easy” and that “growth hard to come by” because of the tax rises introduced by Chancellor Rachel Reeves in her Autumn Budget last year.

The retailer added that its pre-tax profit fell during 2024 because of rising costs while it pins its hopes on the “government’s growth ambitions start[ing] to bear fruit” as the year progresses”.

The comments have been included in the latest set of financial accounts for Oliver Bonas which have just been filed with Companies House .

They show that the firm’s pre-tax profit declined from £8.6m to £7.8m in 2024 but that its revenue increased from £135.7m to £150.2m.

During the year Oliver Bonas opened seven n

See Full Page