Published on 2 - August - 2012
Robert Dyas' like-for-like store sales up 3.3% for the yearThe retailer's parent company Cleeve Court Holdings Ltd has released its results for the year ending March 31, 2012, revealing a turnover increase of 2.2%.
The positive annual results are a warm welcome for the retailer's new owner Theo Paphitis
This brings the sales figures for the 52 week period up to £105.9million compared to £103.6m last year. LfLs were up 3.3% and Dyas' EBITDA was £2.8million compared with £4.1m in 2011.
It's a warm welcome for Dragon's Den star Theo Paphitis, who took over the business just a few weeks ago.
Robert Dyas' chief executive Graham Coles said: "The Board was pleased to deliver solid sales growth during a difficult economic climate. As recently announced, on July 10 2012 the business was acquired by Gladys Emmanuel Limited - a company wholly owned by Theo Paphitis.
"We look forward to reaping the benefits of a much strengthened balance sheet that is completely free of any bank debt. In addition, we now have one of the nation's favourite 'Dragons' as our Chairman, adding fire, energy and inspiration to all aspects of the organisation."
Mr Paphitis added: "I would like to thank all Robert Dyas colleagues for the commitment and effort they put into every part of the business. Their contribution - in particular in providing an excellent customer experience - is vital to the continued success of the business and I look forward to working with all stakeholders for a brighter future."
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