Revenue

£m

+9.9%

(2017: +8.5%)

EBITDA*

£m

-1.8%

(2017: -7.8%)

* EBITDA is presented before exceptional costs.

Dividend Per Share

Pence

+1.9%

(2017: +3.6%)

Operational Highlights

  • Growth in unique customers numbers both online (+18%), and in-store (+5%)*
  • Integration of Worldstores product catalogue and supply chain completed
  • Continued gain in Homewares market share to 8.1% (2017: 8.0%), further strengthening number one position
  • Improvement in customer satisfaction scores across all channels
  • Opening of ten new superstores in the year (including one relocation) and completion of six new format refits
  • Product range grew in breadth and quality with 90% of customer reviews of products online being rated four or five stars

* Unique customer numbers reflects internal analysis based on unique payment card transactions within the financial period

GlobalData Retail research. FY17 has been restated based on final market data (see Our Marketplace for further details)

Financial Highlights

  • Sales growth of 9.9% including 1.0% like-for-like (LfL) growth in stores and an online LfL sales increase of 37.9%
  • EBITDA of £139.6m (pre exceptional items), down 1.8% year-on-year reflecting investment for growth and consolidation of Worldstores trading losses
  • PBT of £102.0m (pre exceptional items), inclusive of an estimated £8.4m of Worldstores operating losses in year which will not repeat in future years
  • PBT of £93.1m including £8.9m of exceptional costs relating to the integration of the Worldstores businesses
  • £44.0m capital investment in year including digital technology development, new and refit stores and a new purpose-built manufacturing centre for our made-to-measure offer
  • Improvement in free cash flow year-on-year to £52.9m (FY17: £14.2m)
  • 1.9% increase in full year dividend to 26.5 pence per share