- Prachi Singh |
Announcing its preliminary results for the year ended March 31, 2018, Quiz said, its revenue increased 30 percent year on year to 116.4 million pounds (155 million dollars) driven by strong growth across all channels. Online revenue for the year increased 158 percent to 30.6 million pounds (40.7 million dollars), while underlying international sales increased 32 percent to 21.2 million pounds (28.2 million dollars). Revenue from UK stores and concessions increased 12 percent to 64.6 million pounds (86 million dollars).
Commenting on the company’s preliminary results, Tarak Ramzan, Founder and Chief Executive Officer of Quiz, said in a media release: “We are pleased to report a very good performance for the Quiz brand during the year with excellent progress achieved from our omni-channel growth strategy. The brand has continued to deliver rapid growth online, with revenues up 158 percent year on year, as well as strong growth in international target markets and across our UK store and concession estate.”
Underlying EBITDA for the year up 24 percent
Underlying EBITDA for the year increased 24 percent year on year to 12.7 million pounds (16.9 million dollars). The company said that a maiden dividend of 0.8 pence per share has been proposed in respect of second half of FY18 and added that successful placing on AIM in July 2017 raised 10.3 million pounds (13.7 million dollars) of new money for the business to help fund further expansion.
Active online customer base during the year under review increased 87 percent to 370,000. Quiz also inked its first international online partnership with Zalando in early FY18. The company launched local language website in Spain during the second half of fiscal 2018 alongside the opening of three Spanish standalone stores, Quiz’s first outside the UK and the Republic of Ireland and first direct USA sales through department store outlets with a USA focused website was launched at the end of FY18.
The company added that it continued UK expansion with five new stores and six concessions opened with existing UK partners and extended the space utilised in its distribution centre by 40 percent to 232,000 sq. ft. at a cost of 0.8 million pounds (1.07 million dollars).
Picture credit:Hudson Sandler LLP