Nationwide stationer tops £128 million turnover
Stationer Ryman has posted turnover of over £128 million for the year ending 1 April 2017, up by 0.5 per cent on a year earlier.
Company chairman and former Dragons’ Den investor Theo Paphitis in a statement revealed that strong online growth compensated for a dip in like-for-like store sales.
Paphitis said: “I am pleased to report another satisfactory year of trading for the Ryman business. Turnover at £128.2m was slightly up, delivering an EBITDA of £9.9m from £9.6m in the previous year.
“Ryman operates 210 stores nationwide, as well as an online and B2B business. Strong growth delivered online of 24.8 per cent compensated for a small decline in like-for-like store sales, as well as sales lost due to selective store closures at the expiry of their leases. Investment has continued in developing a multichannel proposition, which enables our customers to purchase in a way that suits them most.
“Our click-and-collect proposition has proved popular because of the convenience of our store locations. The Ryman stores have also been utilised by other group brands as an option for their own click-and-collect propositions.”
“As anticipated and reported, the Christmas trading period as has been the case for most of this year was ‘hard work’ for many retailers. In all my years I have never seen it so hard and unforgiving where the shopper will punish you if you take your eye off the ball.
“I am therefore very pleased that we were able to deliver growth as a group.”