Waterstones heading in 'right direction' after slashing losses

Waterstones heading in 'right direction' after slashing losses

Waterstones is “moving in the right direction” but there is still “much more work to do”, the chain’s managing director James Daunt has said after the company significantly reduced its losses last year.

The bookseller’s annual financial accounts for the year to 25th April 2015 have been filed on Companies House, showing losses of £1.9m after tax, down from a loss of £18.5m in 2014.

Revenues at the chain retailer were up 1% year-on-year to £378.0m and the company also benefitted from £8.3m worth of capital investment from its owner Alexander Mamut, down from £20.9m a year earlier. The £378...

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