Hobbycraft celebrates full year sales boost

Arts and crafts retailer enjoys 12 per cent increase in sales; ten new stores opened during period.
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Full year sales have been bolstered at Hobbycraft, with the arts and crafts specialist reporting an increase in revenue of almost 12 per cent.

The chain saw revenues rise 11.9 per cent to £106.5 million in the 12 months to February 19th. Total earnings before interest, tax, depreciation and amortisation were up by 8.3 per cent to £15.6 million.

Hobbycraft opened up ten new stores during the period - taking its total to 61 outlets. Its owner, Bridgepoint Capital - which acquired the firm in 2010 - believes there is potential for Hobbycraft to expand to up to 150 outlets in the next five years.

Catriona Marshall, CEO of Hobbycraft, commented: "2011 was a year of further significant change in every area, and we have seen very good progress in improving the pace, precision and effectiveness of our management."

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