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Robert Dyas reports solid sales growth

Robert Dyas, the homewares retailer acquired by Theo Paphitis last month, has reported that sales rose 2.2% to £105.9 million in the 53 weeks to end March 2012.

GENERAL MERCHANDISE

Robert Dyas reports solid sales growth

Robert Dyas, the homewares retailer acquired by Theo Paphitis last month, has reported that sales rose 2.2% to £105.9 million in the 53 weeks to end March 2012.

While like-for-like store sales increased by 3.3%, EBITDA was £2.8 million compared to £4.1 million in 2011.

Graham Coles, chief executive for Robert Dyas, said: "The board was pleased to deliver solid sales growth during a difficult economic climate.  As recently announced, on 10 July 2012 the business was acquired by Gladys Emmanuel Limited - a company wholly owned by Theo Paphitis.  We look forward to reaping the benefits of a much strengthened balance sheet that is completely free of any bank debt.  In addition, we now have one of the nation’s favourite 'Dragons' as our chairman."

Paphitis said: "I would like to thank all Robert Dyas colleagues for the commitment and effort they put into every part of the business.  Their contribution - in particular in providing an excellent customer experience - is vital to the continued success of the business and I look forward to working with all stakeholders for a brighter future."

Founded in 1872, Robert Dyas has 96 stores across the south of England and also operates an e-commerce business.   

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