Oak Furniture Land’s profits and sales advanced last year as the furniture retailer made its US debut.
The retail park stalwart’s pre-tax profits nearly doubled in the full-year to September 30, 2016, reaching £15.2m, compared with £7.7m the previous year.
According to accounts filed at Companies House, sales increased 18% to £280m in the year. No like-for-like sales figure was given.
The retailer attributed the jump in part to extensive TV advertising and its ongoing store opening programme – it launched eight new stores during the period.
Oak Furniture Land launched a subsidiary business in the US in July last year and currently operates a website in its new market.
Earlier this year, the retailer’s boss and founder Jason Bannister considered selling off a chunk of the business to invest into its new US arm.
The retailer said: “Although the retail market outlook remains uncertain, the business is well positioned to achieve further growth across the UK.”
In an interview with Retail Week in December 2016, Bannister – who founded the business on Ebay in 2004 – unveiled his plans for the future.
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