Matalan posts strong year

Matalan achieved a 12 per cent increase in its full price sales for the year to 24th February, benefiting from the rise in the number of consumers seeking bargains. Total revenues for the 227 store chain came in at £1.1 billion with EBITDA up 36 per cent to £104.5 million.

During the year the business had benefited from the launch of a new website as well as the refurbishment of a number of its stores.

CEO Jason Hargreaves commented “The business has delivered a strong year, in which it outperformed the market and successfully refinanced in January. In what remained a volatile and challenging market, customers were savvy in seeking out true value.”