In a fiscal triumph, Stork Beta, the parent company of Mamas & Papas, achieved a substantial surge in turnover, reaching £144 million for the year concluding in early April. This impressive growth, spanning 53 weeks compared to the previous 52, underscored the company’s financial strength.
Operating profit exhibited positive momentum, ascending to £8.39 million from £8.29 million, while EBITDA saw a commendable increase to £10.9 million. Profit before tax soared to £8.1 million, surpassing the £6.8 million recorded in the preceding fiscal year. The final profit for the year culminated at £6.1 million, outperforming the £5.7 million from the previous period.
As the non-trading parent of the Mamas & Papas Group, Stork Beta oversees diversified business units, including wholesale operations, physical stores, concessions, and digital platforms. It also serves as the franchisor for its thriving international business.
The company’s holistic performance showcased a significant year-on-year increase in sales, maintaining robust margins and profit levels. Retail sales witnessed an exceptional 31% surge, with concession store sales more than doubling, leveraging strategic partnerships with major retailers like Next and M&S. The reopening of physical stores post-pandemic contributed to increased footfall.
While celebrating growth, challenges arose in the form of escalating overheads, particularly in rent and payroll due to new concession openings. The company anticipates these costs to taper as the value of new locations materializes.
The digital business segment flourished, registering a 9% growth in sales, driven by strategic website enhancements that boosted online traffic. The wholesale business reported a marginal 2% decline in sales, attributed to a strategic focus on higher-margin customers and the development of direct retail sales channels.
Internationally, the company celebrated the successful rollout of its shop-in-shop concept with a major retail partner in Spain, solidifying its global presence.
In essence, Stork Beta and Mamas & Papas showcase not only financial prowess but a strategic resilience that positions them for continued success in the competitive retail landscape.
