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Tiger posts pre-tax profit of £2.98m in 2013

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Danish variety chain Tiger has posted a strong set of results for 2013 as its rapid expansion across the UK continues.

Pre-tax profits were up 63 per cent to £2.98m and turnover increased by 45 per cent to £23.3m.

The retailer, which opened six new stores, last year including a West End flagship on Tottenham Court Road, posted a jump in like-for-like sales of 4.36 per cent in 2013. EBITDA increased by 50 per cent.

UK Managing Director, Philip Bier, said: “We are satisfied with our trading results for 2013, which demonstrate that our profits are increasing at a faster rate than our expansion.”

The retailer now has 24 outlets and expects to open stores in affluent areas such as Richmond, Canterbury and St Albans in the first half of 2014.

Tiger Retail UK is 50 per cent owned by UK management, and 50 per cent by Tiger Denmark.

Published on Tuesday 18 February by Editorial Assistant

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