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Quiz profits jump as millennials snap up ranges

Quiz’s AIM listing was one of the largest on the junior market this year so far
picture of Quiz shop
Quiz is a mixture of shop and online

Millennials-focused womenswear group Quiz Plc (LON:QUIZ) posted strong half year numbers in the first results since it listed on AIM in July.

Strong sales had already been flagged, but underlying profits [EBITDA] matched the growth in revenue with a 32% rise to £6.2mln.

READ: ASOS and Boohoo face new AIM rival as fashion retailer Quiz set for £200mln IPO

Revenues rose by 35% to £56.1mln as Quiz opened its first stores outside the British Isles, in Spain.

Quiz’s AIM listing was one of the largest on the junior market this year so far, with £103mln worth of shares sold at 161p including £10m raised for the company.

Including the float costs, statutory profits were flat at £3.7mln.

Fast fashion

Quiz aims for the age 15-35 market (millennials) and a smart casual wear range that it can change quickly to keep up with fashion trends.

A clicks and mortar business (online and shops), online sales rose by 205% to £13.8mln as a new distribution centre came online.

UK stores and concession revenue rose by 15% to £32.3mln and international sales by 26% to £10mln.

Tarak Ramzan, chief executive, said trading had remained strong since the end of the half year and it is optimistic going into the key Christmas period.

All channels should show growth this year, he added.

Shares rose 4% to 163.8p.

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