Blackwell's reports third year of growth as sales rise to £58.3m

Blackwell’s has reported a third consecutive year of growth, with sales of £58.3m for the financial period ending 29th June 2019, up from £57m the previous year.

The company said there had been growth across its business including its portfolio of shops and particularly from its expanded online offer.

Consolidated accounts to June 2019 reported a loss on ordinary activities of £0.9m, before exceptional items, although this compared with a loss of £1.7m in 2018.

Its accounts are not yet publicly available, but the company said revenues had now increased by over £15m in the past three years, “despite the difficult retail climate”.

David Prescott, c.e.o, said: “We are delighted to continue our positive momentum towards profitability and partnership in what remains a challenging market. Our multi-channel strategy and in particular the strong performance of our own website, Blackwells.co.uk, continues to underpin our improving performance.

“Our customers trust our global brand, characterised by the warmth, sincerity and knowledge of our exceptional booksellers who make this business what it is.”

The company said its ambitions remained high, with investment in shops including a new Manchester store that opened in February, a relocation of its Belfast academic bookshop and the opening of a distribution centre in Gloucestershire for its online activities.