Tiso Group returns to profit
A pre-tax loss of £100,000 was turned into a profit of £1.2m. As well as a new IT system it refurbished a number of stores and paid down £1.6m of bank loans to leave debt at £5.9m.
Chris Tiso, chief executive officer, said: This has been a strong performance for the group, despite challenging trading conditions.
"The strategic and operational changes we put in place over the last year have significantly transformed our business and provided us with a solid foundation upon which to grow both organically and by acquisition.
"While we anticipate that the economic environment will continue to impact the retail sector, as a group we are well positioned to continue our strong progress and remain focused on further improving operational efficiencies and maintaining customer loyalty to deliver long term value."
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