Matalan profits rise despite 'tough climate'

Matalan store front

Matalan has posted an uptick in full-year profit before tax and total sales that boss Jason Hargreaves attributed to “sales, margin, and cost management performance”.

The fashion and homeware retailer posted a 3.8% total sales increase to £1.1bn for the 52 weeks to February 23.

Profit before tax increased to £30.1m up form £20m for the same period last year.

The value retailer’s fourth quarter total sales increased 4.5% to £267.3m during the 13 weeks to February 23 with an uptick in EBITDA to £14.8m compared with £14.6m for the same period last year.

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