TheWorks.co.uk plc (GB:WRKS) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
TheWorks.co.uk plc, a value retailer in arts, crafts, toys, books, and stationery, reported modest revenue growth in FY24 amidst a tough trading environment, with £282.6m in revenue and pre-IFRS16 adjusted EBITDA of £6.0m, in line with market expectations. Despite a decline in like-for-like sales, especially online, and no final dividend proposed, the company anticipates profit growth in FY25 with a forecasted EBITDA of £8.5m, driven by strategic initiatives and operational improvements. Key strategic changes included enhancing product margins, streamlining costs, and evolving the brand, positioning The Works for a stronger performance in the upcoming holiday season.
For further insights into GB:WRKS stock, check out TipRanks’ Stock Analysis page.