Oak Furniture Land has reported a record year as profits shot up from £3.9m to £9.2m while sales more than doubled last year.
The furniture specialist reported turnover rocketed 140% to £85m in the year to September 30, 2012.
The company said today it will open another 12 stores across the UK in 2013 and create 500 new jobs across the business in the next three years.
Oak Furniture Land said its extensive TV advertising throughout the year drove “more than 40%” like-for-like growth in stores as well as “strong” growth in online sales.
The 36-store retailer now has plans to expand its product range with the opening of Oak Furniture Land SleepShop areas in 17 stores and the introduction of a range of sofas.
Founder and managing director Jason Bannister said: “These exciting figures reflect the hard work and sensible decisions we’ve made in the last year. We have focused on a rapid roll-out of stores, starting out in December 2011 with 12 stores and achieving 36 stores nationwide by Boxing Day 2012. It was also crucial to maintain our momentum of sales online during this busy period.
“The plan is that 2013 is going to be slightly quieter, but we are still committed to opening 12 new stores in prime sites across the UK. It is hard to believe I started the business with a single container of hardwood back in 2003.”
The retailer said it had added investment in additional warehouse facilities and infrastructure, including relocating its Swindon operations in November 2012 to a new 302,000 sq ft premises.
Set up on eBay in 2003, the company quickly became eBay’s largest retailer in 2006 with a turnover of £2.7m.