Robert Dyas posts ‘strong performance’ for 2019 and ‘credible’ Christmas

Theo Paphitis Retail Group has recorded a ‘strong performance’ for its Robert Dyas chain for the 12 months to March 30 2019.

Total revenue increased by 6.3% to £131.8 million while EBITDA increased from £500,000 to £1.6 million, reflecting strong online growth following the introduction of new categories and a good performance in outdoor categories during summer peak.

For the six weeks to December 24 2019, the Group reported positive like-for-like sales and strong e-commerce growth for the 96-store homeware chain.

Former Dragons’ Den investor Theo Paphitis, who added Robert Dyas to his retail portfolio in 2012, said: “Looking back at the prior financial year and this Christmas, our Group has delivered a resilient performance in what has been the most challenging retail environment we have ever experienced, underpinned by consumer uncertainty and declines in footfall.

“I’m pleased that Robert Dyas, as a heritage brand on our high streets, traded well over the prior financial year. The business put in a good performance, growing sales and profits as it focused on strong retail execution and category development, both online and in store. Christmas trading was also creditable for the business.”

He added: “As I have previously said, the lack of reform and focus on business rates by the government and other authorities continues to frustrate us and puts at risk one of the key sectors for the UK economy. However, I’m a firm believer that both physical and online retail have a future and we are seeing that we are able to deliver further growth through our heritage brand Robert Dyas, through our e-commerce and other new channels. I would like to thank our loyal colleagues and suppliers for their continued support – and we remain confident in the strength of our Group and its collective portfolio of brands.”

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