Go Outdoors Ltd audited financial results for the year ended 27 January 2013 and current trading update
Financial and operational highlights:
- Record turnover for 2012/13 financial year of £171 million, an increase of 19% on the previous year.
- EBITDA of £9.4 million, up more than 10% from £8.5 million in the previous year, whilst continuing to invest in growth.
- A return to profit (profit before tax of £1.5 million) and significant investment in new stores and ecommerce capabilities.
- Strong growth in multi-channel sales - 41% up year on year – with an encouraging performance from click and collect.
- Four new stores added in the year. Three more openings to date in the 2013/14 financial year, including Milton Keynes flagship store, with more openings in the pipeline.
Go Outdoors Ltd, the UK’s leading outdoor retailer, today issues its audited financial results for the year ended 27 January 2013.
The business achieved record turnover in 2012/13, reaching £200 million of gross sales for the first time (£171 million net of VAT), and generated a profit before tax of £1.5 million. Earnings before interest, tax and depreciation and amortisation were £9.4 million, up 10.6% on the previous year.
The Sheffield-headquartered retailer now operates 44 stores and employs nearly 2,000 staff.
Chris Matthews, CEO of Go Outdoors Ltd, said: “2012 was a solid year for Go Outdoors with strong sales growth and significant investment in new space that will serve the business well as the economy continues to improve. We opened four new stores in the year, invested in our multi-channel capabilities and strengthened our management team. As a result we consolidated our leadership position in the market, achieved record turnover and returned to profit.”
“We reduced our net debt from £14.6 million to £12.7 million despite our new store openings.”
“In the current financial year we have already opened three new stores - Milton Keynes, Scunthorpe and Kidderminster - and we are experimenting with new store configurations. Our e-commerce operation, including our click and collect service, is performing strongly.”
“Go Outdoors’ greatest asset is the enthusiasm and professionalism of its employees. They are directly responsible for the continued loyalty of our customers. We are on track to make further progress in the current financial year.”
A full set of statutory accounts has been filed with Companies House.
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About Go Outdoors
Go Outdoors is the UK’s leading retailer of outdoor equipment and clothing covering a range of activities including camping, walking, climbing, riding, fishing, skiing, running and cycling.
The business is privately-owned and backed by leading international investor 3i plc which owns a minority stake.