Smyths Toys have posted a £31m dividend after record breaking sales during 2019 and strong sales leading up to March 2020 when the COVID-19 crisis escalated.
revenues at Smyths Toys in Britain and Northern Ireland increased to a record €737m in 2019. Accounts filed by Smyths Toys UK Ltd, which focuses on Britain, show the retailer’s pre-tax profits declined by 14% to £12.48m in 2019, as the company expanded further in Britain.
Sales at the company increased 7% from £581m to £622.6m in 2019, while sales at the Northern Ireland arm totalled £45.19m, resulting in combined revenues of £667m. The retailer currently operates 104 stores in England, Scotland and Wales and an additional seven in Northern Ireland, where pre-tax profits for 2019 totalled £904,000. The accounts confirm that the British company declared a dividend of £31m in February 2020, following a dividend of £9m in 2019. Combined numbers employed at the two companies increased from 2,642 to 3,001 in 2019.
With a purchasing program pushing on buying more properties with a view to expand even further, the future looks bright for Smyths.
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