Osborne & Little experienced ‘immediate adverse effect’ in January – but files pre-tax profit of £558,000 after cuts
The former chancellor George Osborne’s family wallpaper business has said that Brexit added £400,000 to its costs, as the company’s sales slid more than 16% during the Covid-19 pandemic.
Osborne & Little, which is controlled by Osborne’s father, Sir Peter Osborne, said the UK’s exit from the EU had “an immediate adverse effect on profits” from January 2021, with unforeseen costs such as increased shipping payments and taxes on EU goods imported to the UK before being exported back to Europe.
