Matalan has posted good growth in its 2021-2022 revenue and profit!
The clothing retailer from the UK saw its revenue shoot up by 38 per cent to clock £ 1 billion in the year that ended 26 February 2022.
It also reported EBITDA post adoption of IFRS 16 of £ 197.8 million, while the same was £ 80.5 million a year earlier.
Matalan attributed the good numbers to its large and spacious out-of-town stores, which remained appealing to consumers during the pandemic – not to mention the robust performance of it’s own womenswear brands Et Vous and Be Beau.
The retailer also said that for the first 13 weeks of the current financial year, revenue has shot up from £ 221.8 million to £ 286.5 million.
As per the newly filed accounts, Matalan has also reduced the number of its staff from 11,558 to 10,837 during the said period.
Founded in 1985, Matalan generated revenue of £ 1.1 billion in 2019.
