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Operating profit up 353% at Robert Dyas

Published: 31 July 2013
Business has boomed at Robert Dyas following its July 2012 takeover by former Dragon's Den star Theo Paphitis, with operating profits up to £4.89m for the year to March 30, 2013 - an uptake of 353% since last year's £1.08m.
Operating profit up 353% at Robert Dyas
Like-for-like sales were up 11.2%, and turnover increased by an overall rate of 8%, bringing the total to £114.4m.

Said Robert Dyas chairman Theo Paphitis: "There is no doubt in my mind that in the current economic and retail environment this was a great achievement by all involved at Robert Dyas, especially when you take into account when I bought the business three months into this reported financial period it was 4% down on like-for-like income.

"The response from the management team, colleagues and trading partners since then has been excellent and, together with the removal of the debt burden, allows us to focus on providing to our customers exactly what they value Robert Dyas for."

Trade over the past three months has continued its winning trend, following the successful launch of the Robert Dyas catalogue in May. This, added Mr Paphitis, is "receiving a positive and very exciting response, allowing us to reach new regions across the UK not only for the online business now but also for potential bricks and mortar sites in the future."

He added: "Current trading continues to perform well with like-for-like sales growth in stores and online, particularly in the outdoor and garden sector as the country enjoys a sustained period of warm weather, suggesting to me that Robert Dyas really can be a man for all seasons to our customers."

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