Hamleys operating profit soars 70% - ToyNews

Hamleys operating profit soars 70%

Retailer posts strong results for its financial year as store expansion continues.
Author:
Publish date:
20_hamleys.jpg

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."

Want to receive up to the minute toy industry news straight to your inbox? Click here to sign up for the free ToyNews Daily Digest and Newsflash services. You can also follow ToyNews on Twitter and Facebook.

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.