- Full-year group pre-tax profits up 32%
- Total sales up 7% in year to June 27, 2015
- Results boosted by store refurbishments and online investment
Steinhoff UK - the owner of Harveys and Bensons for Beds - has recorded a 32% jump in annual profits after investment in its online offering bore fruit.
The group, whose South African parent company Steinhoff International pulled out of the battle to acquire Argos, posted pre-tax profits of £27.4m for the 52 weeks to June 27, 2015.
Total sales rose 7% to £501m, according to accounts filed at Companies House.
Sales were also bolstered by a “store refurbishment and refreshment programme” across its brands and “an improved range” of products, the group said.
Online sales at both Benson for Beds and Harvey’s had “double-digit” growth, as it flagged that investment in Harveys’ website had paid off. “We envisage this being an important growth area in the future,” the retailer added.
The group’s other fascias include Harveys & Reid and Bed Shed.
As Retail Week reported in September, Steinhoff has called time on its Cargo fascia but continues to trade online.
An unspecified number of Cargo’s 42 stores have been rebranded to Bensons for Beds.