Whittard of Chelsea achieved revenue growth of 20.5 per cent in 2017 to £34.7 million (2016: £28.8 million), and net profits of £251k, up from a loss of £1.4 million in the previous year. Operating earnings (EBITDA pre-exceptional items and loss on disposal of assets) grew by 292 per cent to £1.8 million (2016: £460k). Sales to UK- based customers increased by a healthy 18 per cent, while Whittard continues to be an increasingly popular destination for international shoppers with sales to non-UK based customers increasing by 51 per cent.
Mark Dunhill, CEO, Whittard commented: “The performance of the business in 2017 in the context of a challenging UK retail environment provides evidence that our brand re-positioning strategy is beginning to deliver a robust and sustainable improvement in financial performance. We are excited about the year ahead, with performance in the first quarter well ahead of expectations. Despite rising costs and challenging market conditions, we are confident that by continuing to focus on enhancing the customer experience of our brand and capitalising on opportunities to expand our presence in both the UK and international markets, we will maintain the momentum established in 2017 and continue to deliver sustainable growth for our business.”
Share