// The Timpson family gave themselves a £12.8m dividend last year
// The high-street retailer’s sales have bounced back post-pandemic
The Timpson family paid themselves a £12.8m dividend in 2022 as the business raked in profits “way beyond” expectations last week.
In the 53 weeks to 1 October, 2022 the retailers‘ pre-tax profits surged 66% to £40.6m as sales soared 40% to £297.4m.
The average number of staff employed by the company also rose from 3,950 to 4,164 during the year, after it cut over 800 jobs the previous financial year amid what a “traumatic transformation”.
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The end of the pandemic helped the retailer bounce back as it said its dry cleaning sales were “particularly pleasing”.
The firm said: “As more people return to the office, go to parties, weddings and restaurants and dress up after two years in tracksuits and trainers we can see our dry cleaning offer, supported by a comprehensive network of service hubs, doing well in the coming year.”
It continued: “Our photo business, Max Spielmann and Snappy Snaps, have also seen the benefits of life returning to normal. The weddings, parties and holidays have produced many more pictures to print and the return of overseas travel has led to record sales of passport photos.
“Our hospitality businesses have also been helped by the end of social distancing and a return of the social scene.”
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