Revenue and pre-tax profit are on the rise at Shirebrook-based Frasers Group as both bricks and mortar and online businesses “continue to perform well.”
According to unaudited interim results for the 26 weeks to 24 October 2021 (FY22 H1), revenue has increased to £2,339.8m, in comparison to £1,893.3m in the same period of the previous year.
Statutory profit before tax meanwhile increased to £186m from £106.1m, and adjusted profit before tax increased to £186.8m from £115.5m.
In a statement to London Stock Exchange, Frasers Group said: “The Board is very pleased with the overall trading performance of the Frasers Group during the first half of the year and I want to extend my thanks on behalf of the Board to our hardworking and dedicated teams across the Group.
“Both our bricks and mortar and online businesses have continued to perform well since reopening from the last lockdown in the UK in March 2021.
“Unfortunately we still have the shadow of uncertainty cast by the ongoing Covid-19 pandemic, with restrictions including lockdowns returning to parts of Europe and with the emergence of new variants.
“There are also supply chain risks which to date we have proven resilient to but which must be factored into our future forecasting given these could continue for some time.
“On top of this there are the well-publicised macroeconomic factors contributing to a likely cost of living squeeze which could impinge on consumers spending plans heading into the new year.”
Frasers Group believes it can achieve an adjusted profit before tax of between £300m to £350m by the end of the financial year, assuming no significant UK lockdowns before then.
