Matalan hails ‘strong’ quarter as revenue and profits rise
Matalan has reported an increase in revenue and profits during a “strong” second quarter for the retailer as it works to build a “stronger, more modern” business.
Matalan has posted total revenue of £288.6m for the 13 weeks to August 26, 2023, up 0.8% from £286.4m in 2022.
It also posted EBITDA of £47.9m, following the adoption of IFRS, up from £36.7m in the same period last year. When restated under IAS 18, EBITDA reached £25.1m for the quarter, up from £13.1m in 2022.
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