Hamleys enjoyed a “strong year” after its profit skyrocketed thanks to its ongoing international expansion.
The toy store posted a pre-tax profit of £3.4m in the year to 31 December, up from £673,000 the year before.
Sales edged up 3% to £53m, which it said was driven primarily by franchise royalties.
Hamleys’ UK revenue rose 5% to £45.9m and European sales more than quadrupled from £166,000 to £832,000. However, the retailer’s sales in the rest of the world fell 10% to £6.5m.
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During the period, 29 loss-making international Hamleys stores were closed and 22 were opened.
“The UK retail market remains challenging going into 2025 as consumer spending continues to be impacted by inflationary pressures,” it said in a statement.
“As a result, we remain cautiously optimistic on business growth with a continuous focus on cost optimisation to ensure the profitability of the group.
Hamleys added: “The strategic review undertaken in 2024 to improve customer experience and proposition across all formats, introduction of new products and services, continued overseas growth and entry into new proprietary and franchise markets has delivered positive results for the group in 2024.
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