Online home furnishings retailer OKA Direct Ltd has enjoyed ‘another successful year’ in its latest set of financial results, despite a ‘difficult retail environment’.
According its newly filed figures for the 52 weeks to 23 January 2016, sales grew by 12% to £23.8m on last year, whilst margins also improved to over 58% with EBITDA up by 9% at £2.3m for the year.
OKA Direct said that the success was largely due to the continued development of its unique collection, as well as extending its home accessories range, which ‘complemented’ its furniture and design offer.
Online sales registered a 34% increase on last year, with trade and design up 33% and mail order up by 7%.
During the period, OKA opened two new stores in Bath and Marlow, bringing its total store estate to 12, with further store openings planned over the ‘next 12 months’, adding to its most recent launch in Knutsford back in May this year.
Annabel Astor, Founder of OKA, said: “I am pleased to report sustained progress in the business. The store roll-out plan continues, underpinned by strengthening the executive team, a focus on improving our operational performance and increased marketing expenditure.
“The company’s financial position remains strong and we have a loyal, stable and growing client base. In short, I believe the company is well-placed to meet the challenges ahead.”