Matalan has reported a strong sales uplift in the year to 26 February despite six weeks of store closures at the beginning of the period.
While EBITDA rose to £197.8 million from £80.5 million year-on-year, revenue increased to over £1 billion from a previous £744.1 million.
Meanwhile, pre-tax losses narrowed to £7.7 million from £131.5 million a year earlier.
Matalan said its online sales continued to perform well with growth seen in the previous year retained, despite the ending of Covid-19 lockdown restrictions.
Matalan is now implementing its recently refreshed business strategy which focuses on driving its core business performance, developing omnichannel capabilities, and unlocking and delivering new growth opportunities. The retailer is also repositioning its brand to establish deeper connections with customers and further develop its brand personality and fashion credentials.
Giving an update on more current trading, the retailer said total revenue in the 13 weeks to 28 May 2022 rose to £286.5 million from £221.8 million at the same time in the prior year.
