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The Range turnover tops 760m as profits grow

The Range new store

Turnover at The Range, the discount retailer owned and run by billionaire Chris Dawson increased to over £760m, according to the latest accounts submitted to Companies House.

The accounts submitted by parent company CDS (Superstores International) Ltd reveal that turnover in the 12 months to 29th January 2017 increased 13% to £761.3m from £674.m in 2015/16. Pre-tax profit increased 18% from £57m the previous year to £67.5m last year. During the trading period, the retailer opened 16 new stores, including a store in Limerick, Ireland in August 2016.

A statement from the Directors included in the report said: "Gross profit increased by 10 per cent as a result of the increase in turnover, achieved by increasing the turnover in existing stores and increasing the number of trading stores but maintaining the level of fixed costs. The group is optimistic about the future given the continued growth and associated economies as well as the strength of the concept".

Mr Dawson opened the first store in Plymouth in 1989, at the time called CDS (Chris Dawson Superstores) and today trades from 145 stores the length and breadth of the country.

Last month, the company received the necessary planning permission for a brand new flagship store and Head Office on a former MoD site in Plymouth, creating up to 570 new jobs. Earlier in the year, the retailer opened a new 1.2 million sq ft distribution centre in Bristol, creating more than 1,000 jobs.

Read - The Range new HQ gets go ahead.

Source: Insight DIY Team

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22 November 2017

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