OKA Direct Ltd (OKA) is today enjoying another successful year of financial results, despite the difficult retail environment.
In the 52 weeks to 23rd January 2016, sales were £23.8 million, an increase of over 12 per cent compared to the previous year.
Margins over the course of the 52 weeks improved to over 58 per cent and EBITDA for the year was £2.3 million, up 9 per cent on the previous year.
Much of this success can be attributed to the continued development of OKA’s unique collection, with the successful extension of the home accessories range, complementing the strong furniture and design offer.
Additionally, OKA’s aim to offer a seamless multi-channel experience to its customers resulted in online sales up 34 per cent on last year, with trade and design up 33 per cent and mail order up by 7 per cent.
New stores were opened at the end of the year in Bath and Marlow, bringing the total number to 12. OKA remains committed to expanding their retail presence, with a new store in Knutsford opened on the 1st May of this year and further store openings planned over the next 12 months.
Annabel Astor, Founder of OKA, said: “I am pleased to report sustained progress in the business. “The store roll-out plan continues, underpinned by strengthening the executive team, a focus on improving our operational performance and increased marketing expenditure.
“The company’s financial position remains strong and we have a loyal, stable and growing client base.
“In short, I believe the company is well-placed to meet the challenges ahead.”
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