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Seasalt continues to soar

Cornish lifestyle brand Seasalt’s turnover was up 29% to £66m for the year to 2 February 2019, marking its 10th year of more than 20% year-on-year sales growth. 

Operating profit increased by £2.1m, and profit before tax was £2.5m – five times the figure for the previous year. 

Underlying EBITDA grew 51% to £7m and gross profit margin improved to 57% from 55% last year. 

During the period the brand opened 10 stores in locations including Cambridge, Belfast and Tenby. Eight further store openings are planned in the UK and Ireland over the coming financial year. 

Online performance was also strong for Seasalt: sales rose 35% and there was a 21% increase in active customers. 

Paul Hayes, CEO of Seasalt, said: “Staying close to our Cornish roots and culture drives the relationship we have with our customer and therefore results in this strong performance. During this period the Seasalt family passed 1,000 employees. I’d like to personally thank them all for their creativity and hard work. 

“Our ability to connect with customers in many different ways is underpinned by our continued investment in our business infrastructure, both online and in store. We have every reason to be confident in our approach and remain confident in our future growth plans.”

 

 

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Readers' comments (2)

  • It will be interesting to see if the 18 months since has been as smooth sailing. The choppy waters of Brexit?

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  • Bravo Seasalt...an amazing Cornish success story

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