FOOT Financial Performance20 Jun 2018 10:36
'Strong UNDERLYING financial PERFORMANCE''
''The UK's retail market remains a tough trading environment. However, the overall value of the clothing and footwear market in the UK is still expected to grow over the next five years, according to data from GlobalData, and we believe that our highly differentiated offering and hyper-local approach gives us an edge.
For FY18, I am delighted to report to all our shareholders that we made strong progress on sales, both online and in our stores. Combined with careful cost control throughout the year this has helped us deliver good underlying growth in profits.
Total revenue was £194.8 million in FY18, an increase of 33 per cent compared to the prior year (FY17: £147.0 million). Digital sales played a significant role in the overall growth, contributing £59.0 million in FY18, an increase of 41 per cent.
Revenue from stores rose to £133.2 million (FY17: £105.0 million), reflecting good underlying growth as well as 10 new Footasylum store openings during the year and the successful upsizing of a number of stores in existing locations.
Reflecting investments made to meet the demands of our growing consumer base, adjusted EBITDA grew by 12 per cent to £12.5 million (FY17: £11.2 million). Our adjusted EBITDA margin was, as expected, slightly lower than FY17, as a function of the gross margin reduction and due to the planned investments we made in the business during the year. Non-GAAP adjusted diluted earnings per share grew by 6 per cent to 6.16 pence (FY17: 5.83 pence).''
The sp will tell it all in time I guess FX-W:)
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