Interim Report 28[th] December 2020 to 28[th] March 2021
FRIDAY, 28th MAY, 14:00 CET
JANUARY to MARCH 2021
- Net sales amounted to £26.3 million
- EBITDA before special items amounted to £5,983k up 10.4% on the same quarter last year
- Operating profit amounted to £4,561k
- Profit before tax amounted to £5,405k
- Cash and cash equivalents at the end of the period were £36,573k
Q2 revenues were 7.2% below the same quarter last year due to the inability to deliver in Scotland during the lockdown and the timing of the Christmas holidays. EBITDA increased by £562k to £5,983k over the same quarter as the previous year despite the disruption caused by the COVID 19 pandemic. This increase is due to both the reduction in media spend and a reduction in showroom costs following the closure on non essential retail.
Impacts from closed stores, due to the pandemic, has been minimal as UK customers have switched expenditure to the online channel.
The Company’s cash and liquidity position remain very strong with closing cash at £36,573k up £8,325k in the quarter.
Considering the difficult UK trading environment, Management is extremely pleased with this strong set of results.
With the upcoming maturity of the bond in July 2022 we have engaged financial advisers with regards to exploring refinancing and other strategic alternatives for the Company.
This information is such information that SB Holdco Plc is required to publish pursuant to the EU Market Abuse Regulation (MAR). The information was provided by the contact person below for publication on May 28, at 14:00 CET.
For more information, please contact
Michael Galliford, Chief Financial Officer
Tel: +44(0)1276 802000
mike.galliford@sbholdco.co.uk
About SB Holdco Plc Group:
SB Holdco plc was established on 27th June 2018 and the Sharps Bilston Group was acquired on 13th July 2018. Sharps Bilston Limited is the direct parent company of Sharps Bedroom Limited, the UK's largest retailer of bespoke bedroom furniture. The principal activity of the Group is the marketing, design, manufacture and installation of quality, fully-fitted home improvement products such as bedrooms and home office.
www.SBHoldco.co.uk