London · Delayed Price · Currency is GBP · Price in GBX TheWorks.co.uk Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 marked a pivotal year with 47% EBITDA growth, strong like-for-like sales, and a shift to a store-focused model after closing the unprofitable website. The business delivered robust cash generation, margin expansion, and is on track for further growth, supported by strategic investments and disciplined cost management.
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H1 FY 2026 saw improved profitability and strong store performance, offsetting online sales declines due to fulfillment issues. Product margins and cost savings drove EBITDA growth, with FY 2026 guidance reaffirmed and further profit growth expected in FY 2027.
Fiscal Year 2025
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FY 2025 saw strong operational and financial progress, with EBITDA up to £9.5m and product margins rising to 59.4%. The new strategy targets over £375m sales and 6%+ EBITDA margin in five years, with FY 2026 off to a strong start and £11m EBITDA expected.
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Profitability improved significantly in H1, driven by higher product margins and cost savings, despite online sales challenges. The new five-year strategy targets over £375m in sales and at least 6% EBITDA margin, with further profit growth expected in FY 2026.
Fiscal Year 2024
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Revenue reached £282.6m with store sales growth offsetting online declines, and EBITDA met the £6m forecast despite cost headwinds and supply chain disruptions. Operational improvements and cost controls position the business for significant profit growth in FY 2025, with a forecast EBITDA of £8.5m.