Frasers Group has reported growth in its annual sales to 26 April to £3.95 billion including those of its recently acquired businesses including Jack Wills and Evans Cycles. On a like for like basis however, excluding new acquisitions, sales had actually fallen by 12.6 per cent. International market activity suffered a 19.3 per cent drop, with wholesale and licensing related revenues down by 2 per cent.
“The political uncertainty around Brexit had been with us for far too long and, just as we were feeling more confident of getting some clarity and stability, the Covid-19 crisis arrived, which will continue to have an impact on the economy and our business beyond FY20,” said David Daly, chairman, Frasers Group.
He went on to add: “With digital transformation now at the forefront, the successful re-opening of our stores after the Covid-19 lockdown and continuing strong web peformance, Frasers is confident in achieving 10 per cent to 30 per cent growth in EBITDA for the full year 2021.”
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