JYSK sees UK division deliver profit as sales soar

Danish furniture retailer JYSK has reported a profit in its UK division as turnover jumped by £10m.

According to its latest filed accounts for the year ended 31 August 2021, total sales rose 46% to £32.9m from £22.6m in 2020.

Gross profit increased from £10.4m to £17.6m, while pre-tax profit resulted at £2.9m, significantly improving from a loss of £1.3m recorded the previous year.

Stated within its report, the company said the increase in revenue and generation of an operating profit was driven by its business model and being able to respond rapidly to the changing environment the Covid-19 pandemic enforced.

JYSK UK said it saw a ‘sustained increase in demand’ during the second half of the year, both from online and in store sales after exiting lockdowns.

During the period, four more stores were opened, with plans to open additional stores over the forthcoming period. The UK division continued to receive investment from the wider group via a £3m share issue.

Looking ahead, the company said it expects an ‘unsettled and challenging retail market’ in the UK.

In recent news, JYSK has seen its application for new signage at its Barnsley store approved.

The application, submitted to Barnsley Council, states for the display of an illuminated fascia sign and three digitally printed vinyl advertisements at its location at Barnsley Retail Park on Wombwell Lane.

Detailed within the application, the proposals have been advertised via letters to neighbouring units as well as a site notice, with no objections received.

The application, which was approved on 15 June 2022, concluded: “The signs are considered appropriate in design and scale to the building and to their setting and have an acceptable impact on visual amenity.”

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