Adena Brands, the parent company of Monsoon, Accessorize and East, has reported a return to profit for the year ending 30 August 2025, marking a notable turnaround despite continued pressure on the UK high street and rising operating costs.
Group turnover rose 3.7% to £212.2m (2024: £204.6m), while EBITDA swung from a £2.4m loss last year, to a profit of £8m. Pre-tax profit also improved sharply to £1m, compared with a £7.5m loss in 2024.
The business also strengthened its balance sheet over the period. Cash reserves increased 12.1% to £16.7m, leaving it debt-free at year end. Across the wider group (which includes its Middle East affiliate) total sales reached £227.8m, with EBITDA of £9.1m and cash holdings of £17.9m.
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CEO Nick Stowe described the results as “an encouraging performance” in the face of cost pressures and increased taxation. He credited the company’s five-year investment strategy and the “dedication and hard work” of colleagues.
Accessorize delivered another year of steady like-for-like growth supported by new store openings. While Monsoon’s digital business performed strongly, driven by more efficient digital marketing investment and rising sales across third-party marketplaces.
Adena Brands continued to upgrade both its physical and digital infrastructure. In total, 14 new UK stores opened during the year, with a further eight refitted, meaning most of the estate has now been modernised within five years.
The business also completed a comprehensive technology programme, shifting systems to the cloud, enhancing commercial tools and strengthening cybersecurity.
Founder and chair Peter Simon said returning to profit in a challenging consumer climate demonstrates strong management execution.
“The uncertainty caused by the delayed Budget, where timing could not be worse for the retail sector, and the continuing threat of further tax rises, have not made our lives any easier,” he said.
“As a result, we are taking a cautious approach to investment and hiring, but believe that in the medium term the business will continue to grow and flourish thanks to our unique designs and rich heritage.”
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