Sales maintain growth at department store retailer

Northern Ireland-based family owned independent retail group Ulster Stores has reported another growth in sales.

According to its latest filed accounts for the year ended 31 January 2023, total sales rose 9.8% to £14.6m from £13.3m in 2022, adding to its growth of 31% from £10.1m in 2021.

EBITDA stood at £1.3m, down from £2.1m, while pre-tax profit resulted at £814,000, also down from £1.2m recorded the previous year.

Stated within its report, the Coleraine-based business, which trades across three stores and online, said that its continued investment within its stores has been a key part of attracting customers into store as part of its refreshed ‘Shop, Eat, Experience, Discover’ strategy.

“We have continued to invest in LED lighting and replacing air-conditioning to new more energy efficient options and it is pleasing to report that we are using less electricity as well. We are actively investigating solar panels for store roofs.”

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