Department store retailer performs better than expected

Northern Irish department store retail chain SD Kells has reported a growth in sales as profit remained strong.

According to its latest filed accounts for the year ended 19 January 2023, total sales rose 19.7% to £13.9m from £11.6m in 2022.

EBITDA resulted at £1.3m, down 35% from £2.1m, while pre-tax profit resulted at £1.2m, down from £2m recorded in the previous year.

“The 2023 year has been one of consolidation, however, consumer spending due to inflationary pressures on the economy has not had a severe impact on the company as expected,” the business said.

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