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Seasalt annual turnover up 29%

Seasalt saw its turnover climb by 29% to £66 million in the year to 2 February. The Cornish fashion company’s pre-tax profit rose to £2.5 million… View Article

FASHION

Seasalt annual turnover up 29%

Seasalt saw its turnover climb by 29% to £66 million in the year to 2 February.

The Cornish fashion company’s pre-tax profit rose to £2.5 million to mark a fivefold increase on the previous year. Underlying EBITDA was up 51% to £7 million in the period.

Malcolm Macdonald, chief financial officer of Seasalt, said: “This is another great set of results for Seasalt which has been driven by our multichannel approach. We’re pleased that our strategy continues to demonstrate that good shop keeping can thrive even in this difficult time for the UK retail industry.”

Seasalt continued to expand its store footprint by opening 10 new stores in locations such as Cambridge, Belfast and Tenby. The retailer also plans to open a further eight stores in the UK and Ireland in the current financial year.

The company’s growth means it now employs more than 1,000 people.

Paul Hayes, chief executive of Seasalt, said: “Our ability to connect with customers in many different ways is underpinned by our continued investment in our business infrastructure, both online and in-store. We have every reason to be confident in our approach and remain confident in our future growth plans.”

 

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