Stanfords makes a return to profit
Stanfords, the map and travel book retailer, has reported that full year group sales have risen by 6.5% to Â£6.06 million as the company makes a return to profit.
In the year to 31 March 2015, the company achieved a trading profit of £27,000.
Tony Maher, Edward Stanford managing director, said: “I am delighted to see the company continue to go from strength to strength.
“Our aim was to return the business to profitability in my second year, and with these results we’ve done just that; turning a £400,000 loss in 2013 to almost £30,000 profit last year.”
Maher said the year had seen a number of challenges, not least a 17% increase in the company’s rent for its shop in London’s Long Acre.
The company has introduced a range of new initiatives to boost trade including the Edward Stanford Travel Writing Awards, Stanfords Travel Writers Festival, horse-drawn omnibus tours of London and events both in London and Bristol.
Maher added: “I’m confident that these projects, and a number of others that we’ve yet to announce, along with the continued growth in our core business will continue to strengthen the brand for years to come. I’m excited to see where 2015-16 takes us.”
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