Quiz expects to return to profitability in FY22

Quiz anticipates reporting a return to profitability in FY22 with an EBITDA around 4.3 million pounds and a pre-tax profit around 0.5 million pounds.

In a trading update, the omni-channel fashion brand said that the positive sales momentum previously reported by the group during the Christmas trading period continued through the final quarter of the financial year.

This resulted in like-for-like revenues broadly consistent with those generated in FY 2019, prior to the impact of Covid-19.

As a result of this strong performance, the company added, total FY22 revenue is expected to be ahead of expectations at approximately 78 million pounds.

Driven by strong full-price sell through of occasion wear and dressy casualwear, the company’s gross margin generated across the year and in the last quarter was consistent with the same period in FY19.

Quiz expects to publish its results for the financial year ended March 31, 2022 in July 2022.