Value for money high street retailer, Cash Generator, has reported record year end results with both sales and profits.
For the period 1 February 2009 to 31 January 2010, Cash Generator has reported strong growth across all key income streams contributing to a like for like increase in gross profits of 9.5 per cent. Overall gross profits rose by 26.5 per cent to £30.1 million.
Total group retail sales rose by 34.7 per cent to £73.6 million with the buying of pre-owned items from the public up by 44.2 per cent. The many financial services offered also contributed to the company's performance during 2009, with cheque cashing increasing by 4.9per cent.
With a rapid acceleration in new store openings, Cash Generator is fast becoming a strong retail presence on the UK high street with 27 new stores opening during 2009. This was more than double the previous record of 13 stores in a single year. A new Express concept was launched and rolled out in a number of locations following a successful trial.
Managing director at Cash Generator, Julian Urry, commented: "It is our aim to open at least a further 20 new stores during 2010 reaching a group total of 135 or more, and continue to grow our various revenue and income streams. We have already opened four new stores in 2010."
Published: 31 March 2010
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