Robert Dyas: 2024 EBITDA In Line With 2023

The Theo Paphitis Retail Group has published full-year trading results to March 2024 and audited financial statements to March 2023, noting improved profitability with stores building on growth in challenging market conditions.

Theo Paphitis is to increase investment to support future and development of brands. 

Robert Dyas:

• EBITDA for the year to March 2024 broadly in line with 2023 of £0.2m profit, on a turnover for March 2024 £164.9m vs March 2023 £174.4m (53 wks).

• Year to March 2023 sales of £174.4m from growth of 6% overall and 8.7% in stores continuing the recovery from the pandemic.

• Performance for 2024, of -3.2% store like for like sales, impacted by poor summer season and mild winter, in line with much of the sector, as well as strong comparables on Air Fryers and other cost of living related products in 2022. Trading margin slightly ahead of 2023.

• Investment made in new store openings in Saffron Walden and Bracknell with further locations under consideration. 

• MyDyas customer rewards scheme launched and further investment in e–commerce capability to continue on strong growth in recent years in dropship.   

• No external borrowing. 

Theo Paphitis, Chairman and Owner, Robert Dyas added: 

“Robert Dyas has continued its development and has been successful in offering a truly multi-channel proposition to our customers. Our E-commerce business is just over 40% of the total and has a strong platform to build on for the future. 

We have carefully opened new stores, investing in the high street and its communities, and are looking for further opportunities, as well as extending our joint stores with Ryman, which our customers have responded well to. We saw strong demand from energy saving products, in particular during the winter of 2022, when consumers faced significant pressure on their cost of living. We are well placed for the upcoming Spring and Summer season and hope the British weather is kinder to us all this year!”

The Theo Paphitis Retail Group is comprised of Boux Avenue, Robert Dyas and Ryman.

Source : Theo Paphitis Retail Group

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