Matalan boosts profits despite dip in revenues
Matalan, the Skelmersdale retailer, has seen profits increase despite a small fall in turnover.The company, which ranks at number 2 in Lancashire Business View’s Fab 500 index of the county’s biggest revenue earners, saw revenues dip to £309.5m in the period to the end of November from £310.8m the previous year.
Pre-tax profits, however, rose from £41.7m to £45.3m in the same period.Chief executive Darren Blackhurst said: “We have focused on the quality of our earnings and have delivered a robust improvement in margins.
“Our customer base is growing, the quality of our offer is improving and we continue to improve our earnings in a challenging and competitive market. Matalan, which employs 1,200 at Skelmersdale, plans to leave Lancashire next year for a new base in Knowsley.