Knoops reports strong full year results as it launches fundraise for expansion
Knoops, the chocolate drinks retailer, has announced that its revenue climbed by 110% to £9.3 million, or by 29% on a like-for-like basis, in the year to March 2024.
The company said retail at home revenue was its fastest growing division with combined retail sales across all channels of £2.06 million to mark 81% like-for-like growth. Store revenue rose by 106%, or by 17% like-for-like, across all categories
Subscribe to TRBMeanwhile, operating EBITDA rose by 264%, or by 131% on like-for-like basis, to £979,264 in the period.
William Gordon-Harris, chief executive of Knoops, said: “As the FY results demonstrate, Knoops is rapidly building a stable, loyal and broad customer base across the UK – both on the high street and in people’s homes.”
Since the period end, Knoops has seen its like-for-like revenue increase by 15% as it opened a further four stores to take the total to 21.
The company is now ring-fencing at least £1 million in a campaign via Crowdcube to allow its customers to join existing investors in a wider £5 million EIS fundraise.
The proceeds will be used to expand Knoops’ retail, wholesale and online business, including the opening of new stores, and to establish an international presence.
Gordon-Harris said: “We will continue this growth by raising funds to open more stores in this country, increase our retail flakes production capacity, and start expanding internationally. Our first store outside the UK opens in Dubai next month, and we have big plans for rest of the world.
“We have listened to our customers and have directed a significant portion of our EIS fundraise via Crowdcube to allow as many people as possible to become Knoops owners.”
