Quiz has posted an increase in sales and profitability despite what it called “challenging external market conditions”.
The fast-fashion operator said statutory pre-tax profits rose 4% to £3.8m in the six months to September 30.
However, on an underlying basis, pre-tax profit fell 11% to £4.2m, while EBITDA slipped 2% to £5.9m.
Group sales jumped 19% to £66.7m during the period, as Quiz hailed growth across all of its main channels.
Revenues from its stores and concessions were up 9% to £35.1m across the six-month period, while international sales climbed 16% to £11.6m.
Online sales grew at the quickest rate, spiking 44% to £20m, as its active customer base almost doubled to 495,000.
Ecommerce sales now account for almost a third of group revenues.
Quiz issued a shock profit warning in October, but co-founder and boss Tarak Ramzan insisted the business was “well positioned to deliver long-term profitable growth”.
He said: “Quiz has continued to deliver good revenue growth in the first half of the financial year despite challenging external market conditions. This performance was driven by further expansion across each of the brand’s distribution channels with particularly strong sales generated online through Quiz’s websites.”
Ramzan added: “Quiz has a clear customer focus, a proven ‘test and repeat’ model and a dedicated management team. With these strengths, and despite a challenging market environment, the board believes the group is well positioned to deliver long-term profitable growth.”
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