The proprietor of the Way of life Sports activities retail chain remained extremely worthwhile and money generative within the yr to the top of September this yr, regardless of the affect of Covid-19.
That’s in keeping with new accounts for Stafford Holdings Ltd and subsidiaries, the place the administrators state that the corporate has put in a collection of actions to cushion the antagonistic affect of Covid-19.
They state that whereas the enterprise’s reported earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) and revenue earlier than tax this yr are down on 2019, “the group remained extremely worthwhile and money generative in FY2020”.
The collection of actions put in place in response to Covid included aggressively driving the group’s on-line enterprise, value reducing measures and accessing a spread of Authorities helps together with the Wage Subsidy Scheme, VAT warehousing and charges holidays.
The brand new accounts present that pre-tax earnings on the group elevated by 45% to €6.1m within the 12 months to the top of September final yr.
This adopted revenues growing by 3.5% from €114.39m to €118.45m.
The administrators state that the group’s EBITDA final yr was €10.4m in comparison with €8.5m in 2018.
Dividends of €2m had been authorised through the yr and this adopted dividends of €4.2m in 2018.
Numbers employed complete 482 and employees prices final yr reached €16.8m.
Pay to administrators, together with pension funds, final yr elevated by 44% to €1.6m.
The administrators state that the group is appropriately structured and capitalised with the intention to proceed to make progress in the direction of producing passable returns for its shareholders.