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Discount bookseller The Works is in talks to buy an online business to boost its growth.
The plans come after the company, owned by private equity firm Endless, increased its pre-tax profit from £7m to £7.1m in the year to 1st May and raised operating profit from £10.4m to £10.5m. Like-for-like sales declined 1.5% while total sales grew 7.9% to £144.4m over the period.
The bookseller is also in the process of revamping its website and is hoping to sell e-books by Christmas. Speaking about acquiring an online business to complement The Works, Garry Wilson, managing partner at Endless, told Retail Week: "We will have a push on ecommerce and are looking at a bolt-on acquisition that will turbo-charge growth in that area. The business has a strong presence on the high street and we need to push into further channels."