The Works profits dip as like-for-like sales rise

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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 £2.3m in profit before tax, down from £2.6m the previous year. However, when adjusted to reflect the “full-year impact of the post IPO debt structure”, the adjusted profit before tax was £6.7m, up from £4.2m.

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