Independent department store group Ulster Stores has reported a bottom line growth despite turnover experiencing a dip on last year.
According to its latest filed accounts for the year ended 31 January 2016, total sales registered a small decline by 0.2% to £13.1m from £13.2m in 2015, whilst gross profit remained flat at £4.2m.
However, the reduction in revenue didn’t hinder the end of year growth, with pre-tax profit up by 18.1% to £39,046 from £33,434. The Northern Irish headquartered company posted an EBITDA of £578,834, up by 30.7% from £442,770 recorded last year.
During the period under review, the company said that it grew its digital and social media platforms, as well as confirming that it would continue investment within its stores, whilst planning to launch two new websites for its White House and Clares stores.
The Coleraine-based business, which operates from four department stores including Moores of Coleraine and The White House in Portrush both located on the North Coast of Ireland, de Gruchy based in St. Helier in Jersey, and Clares of Llandudno in Wales.
Established in 1925, Ulster Stores also has two dedicated bedding online stores including SlumberSlumber and Allersafe, which provide anti-allergy bed solutions.