Newly listed QUIZ posts 35.2% increase in sales

Newly listed fast fashion retailer QUIZ achieved a 35.2% increase in group revenue to £56.1m in the half year ending 30 September.

The Glasgow based business, which was admitted to London's junior stock market AIM in July with a market capitalisation of £200m, said it had experienced strong growth across all channels. Online revenue was up 204.6% at £13.8m while revenue from UK stores was up 15.2% at £32.2m. Underlying international sales were up 26.1% to £10m.

Underlying EBITDA was up 32.1% at £6.2m while underlying profit before tax increased by 31% to £4.8m. The business said it has also seen its active online customer base increase by 85.8% to 262,000.

Founder and chief executive Tarak Ramzan the strong performance was a reflection of "the growing awareness of the QUIZ brand and increasing demand for our products that offer the latest glamorous looks and occasion wear at great value."

“Current trading has remained strong since the period end and, underpinned by our strong collections, the Group enters the important Christmas trading period with good momentum. The Board remains confident of delivering growth across all channels for the full year,” he added.

QUIZ operates more than 300 standalone stores, concessions, franchise stores, wholesale partners and international online partners in 20 countries. By the end of this month it will have added five new stores and seven concessions in the UK and it has also opened its first standalone stores outside of the UK and Ireland by opening three stores in Spain.