Sales rise at Matalan
28 June 2010 09:18
Matalan has reported a sharp rise in full year sales, up by 6.7% on a like-for-like basis. Earnings before interest, tax, depreciation, amortisation came in at £186.5 million, up 29%, with revenue up 8% to £1.1 billion.
Chief executive Alistair McGeorge said: "This has been an exciting year for us delivering very strong sales growth in what remains a challenging market…We remain convinced of the continuing relevance of Matalan's offer to UK consumers and have recommenced our store opening programme and increased our investment in our online business to reach out to new customers."
Matalan operates 205 stores in Britain as well as franchised stores in Dubai, Abu Dhabi and Jordan. It previously said it expected to open between six and nine new stores this year, up from three last year. The privately owned retailer recently abandoned a sale process and then raised fresh debt capital of £525 million.
Retail news is updated every weekday and is provided courtesy of: 
