The Works profits dip as like-for-like sales rise
The Works reported a decline in its profit before tax, despite an increase in its like-for-like sales.
The value retailer reported like-for-like sales growth of 3% for the 52 weeks ending April 28, 2019, which it said was driven both in-store and online.
The Works also posted Ā£2.3m in profit before tax, down from Ā£2.6m the previous year. However, when adjusted to reflect the āfull-year impact of the post IPO debt structureā, the adjusted profit before tax was Ā£6.7m, up from Ā£4.2m.
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