Waterstones three years from fiscal autonomy despite upturn, Daunt warns

Waterstones three years from fiscal autonomy despite upturn, Daunt warns

Waterstones must sustain three years of consecutive profit-making before the company can “stand on its own two feet” and not rely on the “charity” of its owner, the chain’s m.d. James Daunt has said.

The retailer’s annual financial results for the year to 25th April 2015 were filed recently at Companies House, revealing that despite achieving a £16.5m swing in operating profit (from an operating loss of £12.2m in the previous results to a profit of £4.3m this time around), the company’s final balance was £1.9m in the red after tax. In the results filed in 2014, the retailer was down £18.5m...

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