Peacocks Group chief executive Richard Kirk said the group had “never felt more confident” and was expected to reveal a strong return to form in the year to March.
Kirk said the group, comprised of value chain Peacocks and mature womenswear retailer Bonmarché, was set to notch up EBITDA of £80m in the year to the end of March.
However, in figures filed at Companies House this week, Peacocks Group reported EBITDA dropped to £64m in the year to March 28, 2009, down from £73.6m the year before. This was largely due to poor performance at the Bonmarché chain.
Kirk said last year’s performance was affected by the economy and a poor summer, with negative like-for-like growth in the first half leading to discounting.
Bonmarché recorded a 3.8% fall in total sales to £188.7m during the year, a 5.8% like-for-like sales drop.
However, Kirk said the chain had since clawed back the drop in the current year thanks to its refreshed David Emanuel tie-up range.
At Peacocks, sales rose 5.2%, a 3% like-for-like drop over the year. However, EBITDA rose by £3m to £4m in the year and Kirk expected EBITDA to climb 30% this year to about £70m.