Frasers Group yearly profits soar 👏
The British retail group have revealed a 13.1% jump in yearly profit in what has been described as a 'break-out year'.
Benefitting from its plan to diversify its portfolio and shift 'upmarket', the retailer posted an adjusted pre-tax profit of £544.8m in the year up to 28th April, despite a 0.9% dip in total sales to £5.53bn.
Michael Murray, CEO of Frasers Group, commented:
"We expanded our retail ecosystem, establishing valuable partnerships with new brands. Our brand relationships have never been stronger, giving us invaluable support as we continue the international expansion of our business."
“We invested in group-wide operational efficiencies in warehouse automation and digital infrastructure, which we expect to yield a tangible impact as early as FY25. And we generated new growth opportunities with the rollout of Frasers Plus, including recently signing our first third party partner in THG."
“We have built a lot of momentum this year and are entering the new financial year with many exciting growth opportunities ahead of us, which we will continue to invest in for the long-term benefit of the group.”
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