Hobbycraft sees surge in earnings

Arts and crafts chain Hobbycraft yesterday reported an 8.3 per cent rise in total earnings before interest, taxation, depreciation and amortisation to £15.6m. The retailer, owned by private equity firm Bridgepoint Capital, saw an 11.9 per cent jump in revenue to £106.5m in the 12 months to 19 February. Hobbycraft, which opened 10 new stores during the year, now has 61 outlets in total. Chief executive Catriona Marshall said Hobbycraft was “well positioned” to survive the downturn.