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Revenue rises at Quiz

Group revenue at Quiz rose by 19% to £66.7m in the six months to September 2018, despite what the fast fashion retailer labelled as “challenging external market conditions”.

Profit before tax rose by 4% to £3.8m in the period, and EBITDA was up 11% to £5.6m.

However, underlying profit before tax fell by 11% to £4.2m, down from £4.7m during the same period last year. Underlying EBITDA fell 2% to £5.9m. 

Online revenue increased by 44% to £20m, up from £13.6m in the first half of last year.

International sales jumped by 16% to £11.6m and revenue from UK stores and concessions increased by 9% to £35.1m.

Tarak Ramzan, founder and chief executive officer, said: “Quiz has continued to deliver good revenue growth in the first half of the financial year. This performance was driven by further expansion across each of the brand’s distribution channels, with particularly strong sales generated online through Quiz’s website.

“The Quiz brand continues to grow and we have seen good sales momentum in our core collections, as well as across extended ranges including curve, occasion and our newest range, Quiz Man. Towards the end of the period we also launched our second collaboration with [reality TV programme] The Only Way is Essex supported by our first national TV advertising campaign.”

Quiz opened two stores and 13 concessions during the first half of this year.

In October, Quiz announced that profits for the year are expected to be lower than previously anticipated as a result of outstanding debt from stockist House of Fraser.

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