Business has boomed at Robert Dyas following its July 2012 takeover by high profile businessman Theo Paphitis.
For the year ending March 2013, operating profits soared 353% to £4.89m from £1.1m in 2011/2012. Like for like sales increased by 11.2%, with turnover up 8% to £114.37 million
Trading over the Christmas period (from November 1 to December 24) was positive too, further building on the growth seen last Christmas, with a like-for-like increase of 5.2%.
Theo Paphitis said: “The growth delivered, both online and in-store, shows that despite the challenges faced by many high streets across the UK, customers continue to respond to the right product, service experience and a convenience offering, where relevant.
“The response from our customers to our proposition meant we were able to deliver increased sales and improve margins at the same time by avoiding the need for discounts seen elsewhere in the market.”
He said that the focus for Robert Dyas in 2014 will be to build on 2013’s successful multi-channel catalogue campaign.
Headquartered in Leatherhead, Robert Dyas operates 100 stores spread across the south of England, varying in size from 1,250sq ft.
Theo Paphitis is probably best known for his role on ‘Dragons’ Den’. He appeared on the hit BBC 2 show for nine series between 2005 and 2012, advising many entrepreneurs and investing in several business ideas.