House of Fraser has reported sales increased by 4.2% to £1.3bn for the year ended January 30 and the department store chain made its first profit before tax since 2006 .
House of Fraser
Profit before tax before exceptional items was £1.3m, while adjusted EBITDA was up 3% to £66.3m compared to the previous year.
Bricks-and-mortar store sales were up by 0.1% on a like-for-like basis and online sales, which account for 18.9% of total sales, rose by 26.8% compared with the previous year.
Its house brands recorded sales growth of 4% while third-party brands rose by 6.7% during the year.
The company refurbished six stores in Huddersfield, Lincoln, Metro Centre, City, Bluewater and Leeds over the 12 months and has agreed to open a new 64,000 sq ft store at Rushden Lakes in Northamptonshire in spring 2017.
House of Fraser will open its first store in China at the end of this year.
“House of Fraser is pleased to report positive sales and margin growth over the full year, delivering the first profit before tax in 10 years,” said chief executive Nigel Oddy. “This was driven by continued progress across both our online and bricks and mortar stores, despite the volatile trading environment in the final quarter of fiscal year 2016.”