Hamleys has shown why a French company paid £60 million in September for the Regent Street-based toy chain by posting a huge leap in profits.
The retailer, which is 252 years old, also said it plans to continue its expansion in 2013 under new owner, the toy specialist Groupe Ludendo, after opening a Hamleys shop in Cardiff in November and eight stores overseas in the past year. These included its first store in Russia, as well as further shops in India, Sweden and the Middle East to take its total outside the UK and Ireland to 20. Hamleys chief executive Gudjon Reynisson said: “Groupe Ludendo is a strong partner for Hamleys, and we look forward to working with them on taking the fun, entertainment and theatre of Hamleys to new levels.
“We have big plans for the future and share Groupe Ludendo’s ambitions for growth.”
Hamleys increased its pre-tax profits by more than 250% to £2.3 million in the 53 weeks to March 31, driven by a 6.3% leap in underlying sales.
