Following ten 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 2019/20:
Key financial and operational highlights include:
- Total revenue increased by 8.9% to £193.6 million
- Store Like-for-Like (LFL) revenue grew by 4.7%
- E-commerce revenue grew by 19.0%
- Strong growth in Adjusted EBITDA* of 21.9% from £12.2 million to £14.8 million
- Hobbycraft Club, the UK’s largest craft database, grows to over 4.5 million members
"We are pleased with our performance and how our offer improved again over the past year.
We continue to execute our strategy with improvements in product ranges supporting multi-channel growth. Our broad range of products continues to evolve with more specialist materials and newness ensuring that we satisfy the needs of craft enthusiasts and stay ahead of the competition. New ranges delivered growth across a number of areas including art which saw growth of 20%, kids painting at 17% and digital cutting with growth of over 100%.
Our resolute focus on the strategy will see us bring further product innovation and inspiration, a new approach to online demonstrations and workshops, new stores and further investment in our E-commerce platform to support future growth.
As ever, these plans are underpinned by a focus on great customer service and colleague engagement. We seek to provide inspiration to customers in the local communities we serve and allow our colleagues to demonstrate their incredible knowledge and passion for crafting.
We were delighted to win “Best UK Retailer under £250m” and “Sunday Times 5th Best company to work for” in the year, giving further external validation to our progress."
Hobbycraft Chief Executive, Dominic Jordan