Fashion retailer Quiz has recorded “strong growth” across all channels in its interim report, in what is its first trading update since it made its stock market debut at the end of July.
The Scottish brand raked in £4.8 million in underlying pre-tax profit for the six months to September 30, a 31 per cent jump when compared to the same period last year.
Underlying EBITDA also surged 32.1 per cent to £6.2 million, while EBITDA climbed 7.4 per cent to £5 million.
Accounting for one-off costs, including its admission to AIM with a £245 million valuation, Quiz’s pre-tax profit remained fairly flat at £3.7 million.
Meanwhile, total sales increased 35 per cent to over £56.1 million – which the retailer attributed to brand awareness and growth across all its distribution channels.
Revenue from UK stores and concessions rose 15.2 per cent to £32.3 million, and sales at its growing international division – in which it opened three stores in Spain during the first half – came in at £10 million, 26 per cent uptick year on year.
However, online was Quiz’s star performer with sales skyrocketing 204 per cent to £13.8 million during the first half, boosted by an 86 per cent growth in its customer base.
Chief executive Tarak Ramzan said: “The group’s strong performance is a reflection of the growing awareness of the Quiz brand and increasing demand for our products that offer the latest glamorous looks and occasion wear at great value.
“Current trading has remained strong since the period end and, underpinned by our strong collections, the group enters the important Christmas trading period with good momentum.
“The board remains confident of delivering growth across all channels for the full year.”
