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Fibre2Fashion
23-06-2025
- Business
- Fibre2Fashion
UK's Matalan posts $75.04 mn profit rise in FY25, eyes expansion
British fashion and homeware retailer Matalan has reported an increase of 6 per cent year-over-year (YoY) in adjusted EBITDA to £56 million (~$75.04 million) for full fiscal 2025 (FY25) ended February 22, despite a 9 per cent YoY drop in total revenue to £985 million (~$1.25 billion). The gross margin of the company for FY25 improved by 3 per cent to £510 million, supported by supply base rationalisation and enhanced buying. The loss before tax widened to £67 million, largely due to non-cash exceptional items. It saw a significant uptick in profitability in the second half (H2), particularly in Q4, where EBITDA surged to £16 million from £6 million a year earlier. Operationally, Matalan made strides in menswear and childrenswear, achieving market share gains, while focusing on product quality, sourcing improvements, and store refits—12 of which have outperformed expectations. With £25 million in new funding, the company plans to open 10 new stores and revamp 30 more in FY26, along with launching a new app to bolster digital capabilities. Matalan has reported a rise of 6 per cent YoY in adjusted EBITDA to £56 million (~$75.04 million) in FY25 despite a 9 per cent drop in revenue to £985 million. Improved gross margin and Q4 gains boosted profitability. Backed by £25 million in new funding, Matalan plans store expansions and a new app. While momentum continued into FY26, the outlook remains cautious amid economic uncertainties. The appointment of Sarah Welsh as chief product, brand and customer officer reinforces Matalan's commitment to placing customer-focused quality at the heart of its offering. While profitability momentum carried into Q1 FY26—driving 12-month EBITDA to £64 million—the company remained cautious given persistent UK consumer pressures and global macroeconomic uncertainty, Matalan said in a press release. 'In the last year our focus has been on further driving the transformation of Matalan against a challenging consumer and wider economic backdrop. The additional £25 million of funding secured from our core investors post-year end has now enabled us to start to accelerate our strategic plan,' said Karl-Heinz Holland, executive chair. 'With a clear focus on maintaining profitability, we have delivered EBITDA growth. Our store investment plan is delivering results even better than we expected, and we are making good headway on our plan to open 10 new stores and upgrade 30 existing locations in FY26.' 'While we started the new financial year with positive momentum, we continue to operate in an increasingly competitive market and uncertain macroeconomic conditions. Against this backdrop, we remain mindful of the tough operating environment and know there is much more to do to complete our transformation,' added Holland. 'At the same time, we are confident in the strength of the Matalan brand and the opportunities ahead, and believe the business is well positioned to continue to transform and grow its profitability.' Fibre2Fashion News Desk (SG)
Fibre2Fashion
28-05-2025
- Business
- Fibre2Fashion
ADNOC & partners to invest $817 mn in UAE manufacturing sites
ADNOC announced that its partners across its supply chain commit to invest AED3 billion ($817 million) in manufacturing facilities across the UAE. The announcement was made at the 'Make it in the Emirates' forum currently underway in Abu Dhabi. ADNOC and its partners will invest AED3 billion (~$817 million) in UAE manufacturing facilities, creating 3,500+ skilled jobs. Backed by ADNOC's ICV program, the projects support the 'Make it in the Emirates' initiative and include sites across major industrial zones. The move aligns with ADNOC's plan to locally produce AED90 billion (~$24.52 billion) in goods by 2030. The facilities are located across Industrial City of Abu Dhabi (ICAD), Khalifa Economic Zones Abu Dhabi (KEZAD), Dubai Industrial Park, Jebel Ali Free Zone (JAFZA), Sharjah Airport International Free Zone (SAIF Zone) and Umm Al Quwain. They will create more than 3,500 highly skilled private sector jobs and manufacture a wide range of industrial products including pressure vessels, pipe coatings and fasteners. The facilities have been enabled by commercial agreements ADNOC signed with the companies under its In-Country Value (ICV) program. The ICV program is providing a platform for businesses to capitalize on ADNOC's diverse commercial opportunities as it delivers on its plan to locally manufacture AED90 billion ($24.5 billion) worth of products in its procurement pipeline by 2030. Yaser Saeed Almazrouei, ADNOC Executive Director, People, Commercial and Corporate Support, said: 'We welcome our partners' commitment to advancing local manufacturing through their investments in these state-of-the-art facilities which will strengthen the UAE's industrial base and create highly skilled private sector jobs. These investments reflect ADNOC's ongoing drive to support the 'Make it in the Emirates' initiative and localize strategic industrial capabilities through our In-Country Value program. We look forward to working with our partners to ensure business continuity and unlock further opportunities for sustainable growth and economic diversification.' The facilities include newly operational sites, major expansions and investment commitments. The state-of-the art facilities are aligned with ADNOC's current and future procurement requirements, underscoring its support for the 'Make it in the Emirates' initiative. The announcement builds on the success of ADNOC's ICV program, which has driven AED242 billion back into the UAE economy and enabled 17,000 jobs for UAE Nationals in the private sector since 2018. Manufacturers, small and medium-sized enterprises (SMEs) and entrepreneurs are encouraged to explore the 'Make it with ADNOC' app, which provides businesses with visibility into the products ADNOC plans to purchase, offering a more streamlined and integrated procurement process. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
