Hamleys operating profit soars 70%

Retailer posts strong results for its financial year as store expansion continues.
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Hamleys saw its operating profit rise 70 per cent to £3.9 million for the 53 weeks ending March 31st, 2012.

Profit before tax leapt 250 per cent to £2.3 million, compared to £0.6 million generated the year prior.

Earnings before interest, taxes, depreciation and amortisation grew by 24 per cent to £7 million, compared to £5.6 million in 2011.

The Regent Street store delivered strong sales growth, with UK and Ireland sales up 6.3 per cent on a like-for-like basis. International store sales rose 26 per cent.

Hamleys opened five new international stores during the period, and in its current financial year it opened eight, including a store in Cardiff, Russia, India and more.

The total store count for Hamleys shops outside the UK and Ireland now stands at 20. More openings are planned for 2013.

In September, Hamleys was bought by Groupe Ludendo.

Gudjon Reynisson, CEO of Hamleys, said: "We are delighted with our sales and profit growth last year and our continued expansion, which demonstrates that our strategy to create destinations globally for the best toy retail experience in the world is proving successful. 

"Groupe Ludendo is a strong partner for Hamleys, and we look forward to working with them on taking the fun, entertainment and theatre of Hamleys to new levels. 

"We have big plans for the future and share both Groupe Ludendo´s ambitions for growth and their values. I would like to personally thank all our staff and partners for their contribution to our continued growth."

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