Thursday, December 14, 2017

Seasalt sales rise but chunk of profits swept away

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Seasalt has recorded an uptick in sales but a downturn in profit in its latest annual trading update.

The Cornish retailer, which has stores all over the UK, had a 23 per cent surge in sales to £34.6 million for the year to January 30 while gross profit was at £18 million, a 19 per cent rise compared to the previous year.

However, profit decreased by 47 per cent to £1.4 million compared with the previous 12 months, which Seasalt said was due to investment in people and systems to help the retailer‘s growth plans.

In addition, the number of people employed with Seasalt went up to 356 people to 482.

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