The Works profits jump 47% as ‘screen-free’ strategy pays off

The Works has delivered a sharp rise in underlying profits as stronger sales, improved margins and cost savings helped offset higher wage and tax costs.
The arts, crafts and stationery retailer’s pre-IFRS 16 adjusted EBITDA surged 47 per cent to £14m in the year to 3 May, up from £9.5m the previous year.
Revenue climbed 3.1 per cent to £260m, while like-for-like sales rose 3.3 per cent, outperforming the 0.1 per cent decline reported across the wider UK non-food retail ma