Highlights

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