Direct Online Services, an online retailer of kitchen worktops, has announced a record year of sales and profits, as well as a £5m internal investment plan.
The Gloucester-based, family-founded business has seen a 150% increase in profits in the last 12 months, with an expected EBITDA in excess of £4m in 2019. This has been driven by margin and productivity improvements, as well as the fruition of operational investments over the last few years. The group has seen a 14% increase in UK sales, as well as a 22% increase in revenue for its German business.
Alongside the 2019 figures, DOS has announced a £5m internal investment plan, consisting of a new building to fulfil capacity until 2023, an investment in new machinery, and £500,000 invested in bespoke software to be able to fulfil orders quicker and more efficiently.
Started in 2008 by father and son Martyn and Will Rees, Direct Online Services sells its range of kitchen furniture through specialist online worktop retailer Worktop Express. More recently, the group diversified into solid wood kitchens and trade sales and owns a fleet of vehicles and showrooms throughout the UK.
Jon Shepherd, Managing Director of Direct Online Services, said: “I’m incredibly proud of these fantastic results, testament to the hard work and vision of the whole team here. In just 10 years, Direct Online Services has scaled up and diversified its offering, never once compromising on our founding values of providing high-quality products at affordable prices.
“As a forward-thinking company, one of our key priorities for the next 12 months will building the skills and expertise that we need in-house and investing in the technology to support them. Many of our employees have been with the company since it first began and investing in their future is an investment in ours.”