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Hobbycraft profits up 10%

Published: 19 December 2008
Hobbycraft is so far proving immune to the economic downturn by revealing turnover has grown by £7.7m to 62.1m.
Hobbycraft profits up 10%
Figures show pre-tax profit is up by 10% to £3.2m but the figures, which are made public today, only cover the year up to February 2008.

However, the chain is keen to point out profits are on the up now with Christmas ranges showing a like-for-like increase of 17.4%.

And the current financial year off to a good start with total sales in the first 26 weeks up 16% and like-for-like sales up 2%.

The chain has only been running since 1995 and its rapid expansion makes it one of the success stories of the past decade.

The chain has 38 stores across the UK and employs more than 1,200 staff and is planning its 39th step in Edinburgh with another outlet opening in spring 2009.

Hobbycraft chief executive Chris Crombie said: We've a loyal base of customers who know they can find what they need to pursue their hobby at our stores, we're pretty happy with our performance."

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