Cameras specialist Jessops posted a gross profit of £87.7m last year and is confident of renewal of banking facilities in November.
Accounts just filed at Companies House showed that Jessops’ sales were £304.6m in the year to January 2, when like-for-likes rose 5.1% and online revenues – including collect at store – rose by 94%. The retailer made a loss after tax of £12m.
Jessops said it made market share gains in “all key hardware and accessories categories” and that its ‘Black’ store format had performed well. Refurbished and relocated stores delivered a sales uplift of 20%.
The retailer noted: “The uncommitted overdraft facility currently in place expires in November 2011, however, in discussions with the directors, the lenders have indicated that subject to the borrowing requirements of the group being in line with their expectations, which are consistent with the directors’ forecasts, it is their current intention to make facilities available at a level adequate to meet the funding requirements at and beyond the formal facilities renewal date.”