Following nine consecutive years of sales growth and a successful business transformation, we are delighted to have delivered another year of strong revenue growth and multi-channel expansion in 2018/19:
Full year results for the year ending 17 February 2019:
- Total revenue increased by 5.4% to £177.7 million
- E-commerce revenue grew by 22.7%
- Strong growth in Adjusted EBITDA* of 27.8% from £9.5 million to £12.2 million
- Five new stores opened during the year bringing total store portfolio as at year end to 94
- Hobbycraft Club, the UK’s largest craft database, grows to over 3.9 million members
"We are pleased with our performance and how our offer has improved over the past year. We continue to pursue our plans for multi-channel growth as we target our strategy to improve the broader appeal of our brand. This is being achieved through leveraging our broad product range which meets the needs of core hobbyists, families and everyday makers, with continued focus on delivering value to our customers. Our focus remains on great customer service and colleague engagement as we seek to provide help and inspiration to customers in their local communities. Our in-store workshop programme plays a key role where our colleagues demonstrate their incredible knowledge and passion for crafting whilst helping customers with their projects.
Looking ahead, whilst we expect the retail environment to remain challenging we are well placed to continue to execute our growth plans, with initial trading in the first quarter of this year ahead of the prior year."
Hobbycraft Chief Executive, Dominic Jordan