Book wholesaler Gardners saw gross profit fall 9.2% in the year to February 2012, with sales dropping 2.9%.
In accounts released through Companies House this week, the company reported a turnover of £171.4m in 2012, a drop of 2.9% from 2011, when it reported a£176.5m turnover.
Gardners reported a gross profit of £29m for 2012, a 9.2% drop from 2011's £32m earnings. Profit after tax was £3.8m.
The results also showed that the number of employees at the company has shrunk by 55 compared with the year before, with on average 703 people employed at the company in the year.