Hobbycraft posts full year sales and profit growth
Hobbycraft has seen its full year revenue climb by 5.4% to £177.7 million.
The company’s adjusted EBITDA also rose, increasing by 27.8% to £12.2 million in the year to February 2019.
Sales were boosted by the opening of five new stores which took the total to 94. The company is currently focusing on the launch of smaller format shops as part of its growth strategy.
Hobbycraft also benefited from an increase in online sales which grew by 22.7%.
Dominic Jordan, Hobbycraft chief executive, said: “We continue to pursue our plans for multichannel growth as we target our strategy to improve the broader appeal of our brand.
“This is being achieved through leveraging our broad product range which meets the needs of core hobbyists, families and everyday makers.”
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