- Profits soar 97% to £12.8m from £6.5m in 2014
- Total sales up 13.8% to £163.6m
- Like-for-like store sales grew 10%
Profits at fashion and homewares retailer The White Company soared 97% in the year to the end of March after a shift in buying strategy.
Operating profits came in at £12.8m for the year, up from £6.5m in 2014. After adjustments and tax the company’s profits were up by 18.4%.
The retailer recorded sales of £163.6m in the 52 weeks to March 28, up by 13.8% on the previous year. Like-for-like store sales increased by 10% over the year.
The retailer said that reduced discounting and a revised buying strategy had led to the improvements in margins.
Commenting on the result, The White Company chief executive Will Kernan said: “I am extremely proud of our performance over the last 18 months; in a difficult trading environment The White Company has continued to strongly outperform the market.
“The exceptional achievements of not just the last year, but the last four years are a testament to the whole team and a unique brand that this year celebrates its 21st anniversary.”