- Financial results for 52 weeks to March 29, 2020
WIMBORNE, Dorset, Aug. 7, 2020 /PRNewswire/ --
Financial Highlights
- Record sales UP 4.1% to £87m (2019: £83.6m)
- Online sales UP 14% to £8.7m (2019: £7.7m) which is highest growth channel for third year in a row
- International sales UP 4.4% to £33.9m (2019: £32.5m)
- EBITDA UP10% to £24.2m (2019: £22m)
Operational Highlights
- Growth in all markets, channels and product categories - fuelled by web growth.
- Growth in the UK of over 4%, and 7% growth in USA.
- Strengthened position as market leader for premium paint in UK with launch of new colours in partnership with Natural History Museum London.
- Social media following reached nearly two million.
Farrow & Ball Group, the UK based manufacturer and retailer of premium paint and wallpaper has achieved record revenue of £87 million, for the 52 weeks to the 29th March 2020.
Despite results in the last month of the financial year being affected by COVID 19, the Group ended the year with growth in all markets, channels and product categories. Total revenue growth was 4.1%, driven by web and third-party stockists predominantly in the UK, which accounts for 61% of its sales.
The company focused its investment in its digital platforms throughout the year including the web, which was the highest growth channel for the third year in a row, at 14% YOY, with online sales representing over 10% of group sales versus 9% in the prior year. Significant investment in its social channels also contributed to growing its following to nearly 2 million followers.
The launch of new colours with London's Natural History Museum in September 2019, was the first extension to the brand's palette offering an additional selection of colours inspired by nature. This further cemented the brand's market leading colour expertise and resulted in significant press and consumer interest across the globe.
Farrow & Ball had partnerships across the globe including with US based interior designers Roman & Williams, and Atelier Vime, Paris. Its paints were exclusively chosen for The Museum of Modern Art, New York for its reopening, and to celebrate the 100th Anniversary of Bauhaus Dessau in Germany with AW Architektur & Wohnen.
Exposure through broadcast was boosted by a TV sketch on NBC's Saturday Night Live, and British craftsmanship focus with Made in Britain on ITV4.
Anthony Davey, CEO said: "At a time where our homes have become increasingly important, we are proud of the role we can play in helping consumers enjoy the space they are spending so much time in.
"Our ability to adapt digitally and continue to deliver for our customers has meant that we can connect and engage with our audience to fulfil their interest in the brand.
"As we start the new financial year navigating the challenges that COVID 19 brings, we continue to be absolutely focused on delivering an outstanding brand experience across our channels so that our consumers can feel confident in transforming their homes."
Notes to editors
Visit farrow-ball.com for information about Farrow & Ball
