Total revenue increased by 8.2 per cent in the year and by 4.7 per cent on a like-for-like basis. In addition, gross profit margin improved from 46.2 per cent to 47.5 per cent.
Says Executive Chairman, Peter Cowgill: “I am pleased with the progress of the group during the year and, specifically, the improvement in profit before tax and exceptional items from £16.6 million to £25.1 million, accompanied by the continuing level of cash generation.
“Trading since the year end has been encouraging, with like-for-like sales for the group for the 12 weeks ended April 21, 2007 being up 7.5 per cent. Overall, the board expects a further improvement in the group’s results for the first half of the current year, but remains aware of the more challenging environment which is likely to prevail in the balance of the year.”