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HobbyCraft Sales Soar
Listed under: News
Published: Friday, November 27, 2009
One of the country's leading art and craft retailers has revealed it has seen its pre-tax profits rise 67% this year, contributing a whopping £5.4 billion to the craft sector.
HobbyCraft – which recently launched its first mainstream advertising campaign in three years – has also seen its annual turnover grow 10.6% this year, reaching £68.7 million.
The company has had a strong year, opening six new outlets over the past 12 months alone, and hopes to expand its presence in the marketplace even further during the next few years, eventually quadrupling its size to 180 stores.
Commenting on the company's recent success, Chris Crombie, chief executive, says, “We are delighted with these results, which have been achieved against a tough retail backdrop. HobbyCraft has proved its enduring appeal to a broad cross-section of the population and continues to expand rapidly.”
He adds, “With the combination of our new store openings, robust balance sheet and unrivalled product offer, the board is confident of delivering sustained earnings growth in the current financial year.”
HobbyCraft – which recently launched its first mainstream advertising campaign in three years – has also seen its annual turnover grow 10.6% this year, reaching £68.7 million.
The company has had a strong year, opening six new outlets over the past 12 months alone, and hopes to expand its presence in the marketplace even further during the next few years, eventually quadrupling its size to 180 stores.
Commenting on the company's recent success, Chris Crombie, chief executive, says, “We are delighted with these results, which have been achieved against a tough retail backdrop. HobbyCraft has proved its enduring appeal to a broad cross-section of the population and continues to expand rapidly.”
He adds, “With the combination of our new store openings, robust balance sheet and unrivalled product offer, the board is confident of delivering sustained earnings growth in the current financial year.”
