More investment is on the way at Fishpools
Fishpools, one of the largest single-store furniture retailers in Europe, built out sales and profits again last year as it made further investment and bolstered its balance sheet.

Group revenue for the Waltham Cross, Hertfordshire retailer passed £30 million for the first time in the year to January 28, up 1.3 percent on the year before.

Retail sales totalled £29.86m with the remainder of the privately-owned business' revenue derived from rental income. Net profits were up 12 percent to £1.27 million.

It invested close on £600,000 during the period, on top of £1.4 million the previous year, as it completed its warehouse investment (see related) and improved its home delivery fleet.

Its investment was funded out of operating cashflow, with the retailer — which has no debt and owns its property — building year-end cash to £10.2 million (2017: £9.6m).

More investment is planned, with Fishpools having initiated a strategic review of all aspects of its IT infrastructure.

"These investments in the future of the business are funded by proactively finding more efficient and cost-effective ways to operate — the only real way to create a healthy and sustainable organisation in a volatile retail sector," the company said.

Total equity advanced to £19.7 million (£19.1m).

Relates Story

— Fishpools builds on record year and makes warehouse investment