Neptune has doubled EBITDA and returned to a profit as it continues what it describes as the first phase of its long-term growth strategy, Retail Week can reveal.
The premium home and interiors brand doubled EBITDA to £6.1m for the financial year 2024/25, returning the business to a pre-tax profit of £2.1m.
The results come over one year after chief executive Mike Clark joined in August 2024, bringing together a new executive team that has driven a “strategic reset” centred on design excellence, customer experience, and operational discipline.
Chair Will Kernan said the figures reflect both the brand’s underlying strength and a clear shift in commercial approach. “We have re-established a foundation for sustainable growth built on quality, integrity, and an obsession with the customer,” he said.
Revenue remained broadly flat on the prior year, but the profitability improvement was sufficient to allow Neptune to make its first reduction in long-term debt since 2019. The business also secured a multi-year renewal of its facility with HSBC on improved terms.
Among the standout performers was Neptune’s upholstery category, which delivered triple-digit growth, while a deliberate move away from promotion-led sales is reported to have strengthened brand perception and supported growth in large-ticket purchases. The company’s Trustpilot score reached 4.7, which it attributes partly to a decision to keep delivery operations in-house rather than outsourcing.
Neptune confirmed it has three new stores planned for 2026, targeting regional cities and market towns, as it looks to bring its in-store experience to a wider audience. The brand, which currently operates 26 UK stores and seven internationally, also announced a new partnership with John Lewis – initially covering accessories, with a furniture roll-out into select stores planned from late spring 2026.
The retailer also advanced its sustainability credentials through its Neptune Renewed circular programme, which gives existing pieces a second life.
Clark said the business is now well-positioned for the next phase. “We have built a business that combines enduring design with operational excellence,” he said. “We will continue investing in our people, our product, and our customer experience – ensuring Neptune continues to be positioned for sustained, profitable growth.”
Neptune, which was founded in 1996 and enters its 30th year in 2026, remains privately owned.
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