UK DIY News
Wren's EBITDA Increases by 66% in 2018
The owner of Wren has reported that the kitchen retailer has increased turnover by 21% in the year ended 31st December 2018, reaching £490.8m
- Gross profit increased by 26% to reach £243m
- EBITDA increased by 66% to reach £62.4m
- Pre-tax profit increased by 124.4% to reach £37.2m
In 2018, Wren introduced its Spectrum kitchen colour initiative, wherein customers can bring along a colour sample to a showroom, have it analysed, and have a kitchen produced in the same shade. The company states that service has been popular and anticipate that demand will grow further as customers increasingly seek out bespoke and personalised kitchens.
At the end of the year, Wren was trading from 77 stores compared with 63 in December 2017. Two stores have opened since the start of the new reporting year and the company has signed for a further three so far. Several other sites are under negotiation but the company stated it will only take on sites which meet with its strategic objectives and long-term plans.
Source : Insight DIY Team
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