Matalan posts solid results
BUDGET fashion and homeware retailer Matalan defied the retail gloom to post a 1.9 per cent rise in full year sales to £1.1bn.
The company said despite “solid” results, margins were hit by discounting, VAT increases, and its decision not to pass on higher input prices to customers.
Earnings before interest, tax, depreciation and amortisation of £91.1m compared with £153.6m last year.