Hobbycraft profits double

Retailer announces a pre-tax profit increase of £5 million to £10.2 million for the year to February 21st.
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Sales for the year were £84.4 million, up from £68.7 million in 2009.

The news comes after Hobbycraft appointed a new chairman, with Superquinn’s Simon Burke joining the team to work alongside CEO Chris Crombie.

During the financial year, Hobbycraft was bought out by Bridgepoint in a deal reported to be worth over £100 million.

In a statement on its website, Bridgepoint claimed: “HobbyCraft is capable of material further rollout in the UK to allow it to take share from smaller specialists and generalist competitors alike, thereby consolidating its dominant category leadership.”



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Hobbycraft is side-stepping the difficulties faced by the vast majority of retailers and is in fact posting some impressive growth figures along with bold expansion plans. Katie Roberts spoke to MD Chris Crombie to find out more?

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