Radley FY17 turnover up but EBITDA declines

For the year ended April 30, 2017, Radley + Co Limited said in accounts filed with the Companies House UK that the turnover rose to 47.1 million pounds (66 million dollars) driven by a new partnership with Debenhams in the UK and 13 percent increase in ecommerce sales to 11 million pounds (15.5 million dollars). However EBITDA decreased to 3.3 million pounds (4.6 million dollars) from 5.5 million pounds (7.7 million dollars) in the previous year.

The company added that international sales during the year under review rose 14 percent due to the growth witnessed in Thailand, Australia and travel retail partners. The company made investments in international ecommerce platforms and launched Asian, US, Europe and China website. Radley also partnered with Tmall to serve the Chinese market.

The company added that increase in turnover was offset by the impact of devaluation of pounds against dollar and Indian rupee, two principal sourcing currencies used by the group. Also because of the number of costs incurred during the year, operating profit reached 1.2 million pounds (1.7 million dollars) against 1.8 million pounds (2.5 million dollars) in the previous year.

Picture:Radley website