Paphitis posts profit rise at Ryman and Robert Dyas

Theo Paphitis is conducting an operational and strategic review of Boux Avenue

Theo Paphitis Retail Group has posted an uplift in earnings at Ryman and Robert Dyas, but trading has been tough at Boux Avenue.

Sales at stationery business Ryman were up 1.4% to £129.9m in the financial year to March 30, 2019, when EBITDA advanced 6.5% to £8.2m as the launch of new categories, the development of services and customer engagement initiatives bore fruit.

Robert Dyas generated a rise in revenues of 6.3% to £131.8m and EBITDA increased from £0.5m to £1.6m as online grew and there was a good performance in outdoor summer categories.

However, Boux Avenue suffered as a result of performance from its shopping centre stores as the online fashion market burgeons. A strategic and operational review is under way as the lingerie specialist seeks lower rents.

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