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Sandra Halliday Published December 30, 2024 Reading time
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Space NK sees another strong year as investment strategy pays off

By

Sandra Halliday Published
December 30, 2024

Space NK has filed its accounts for the year to the end of March and given that it was a 53-week year rather than a 52-week one it's no surprise that sales and profits rose. But it's clear that the company is thriving generally as the jump was about more than just an extra week of trading during the period.

The company said turnover reached £196.5 million, up from £146.6 million in the previous year. That was a 34% leap with the retailer saying the growth was a result of a very strong like-for-like (LFL) performance in it stores – LFL sales were up 28%. It also saw online sales growth of 28% with newly opened stores also adding an extra boost to the figures.

And profit rose too. Operating profit jumped to £10.8 million from £2.6 million and EBITDA was also up sharply at £15.9 million after it made £5.9 million in the previous year. Adjusted EBITDA increased to £16.2 million from £6.4 million and net profit for the period was £7.4 million, up from £1.3 million the year before.