Whistles records profit and sales growth of 16.1 percent

In its annual accounts statement for the year ending March 31, 2018, Whistles Limited reported revenues of 68.5 million pounds compared to 68.9 million pounds in 2017. In its filing with the Companies House UK, the company which in 2016, was acquired by Foschini Group through its subsidiary, TFG Brands London, said, when compared with the results from the equivalent prior year period from April 1, 2016 to April 1, 2017, the growth in sales was 16.1 percent. The company added that online sales grew by 28 percent when compared with 12 months to March 31, 2018.

The company’s EBITDA grew 6.6 million pounds from a loss of 1.6 million pounds for the 14 months to April 1, 2017 to 5 million pounds for the 12 months to March 31, 2018, driven by strong sales growth and streamlining of the business to reduce loss-making stores, direct costs and overheads. Gross margin improved to 64.1 percent compared to 60.2 percent, resulting in gross profit for the year of 43.9 million pounds compared to 41.5 million pounds for the 14 months period ending April 1, 2017.

Whistles operates 45 standalone stores in the UK and 79 concessions within department stores including Harvey Nichols, Selfridges, John Lewis, Fenwick’s and House of Fraser. Whistles also trades through its own online platform as well as partner websites including Asos and Zalando.

Picture:Facebook/Whistles