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Sales down 10% at Homeform Group; Profits return expected this year

8th February 2010

The parent company of retail chains Sharps Bedrooms, Moben, Kitchens Direct and Dolphin prevented losses deepening during the recession despite sales falling 10% to £148.2m.

The 150 store group, now owned by private equity group Sun Capital Partners, made small inroads into its losses, cutting EBITDA* to £4m - compared to £4.2m in the 12 months to March 2008.

In the company's just filed director's report, bosses said 'once volumes return as the UK comes out of recession, the business will be well placed to become profitable.

* (EBITDA - Earnings before Interest, Taxes, Depreciation, and Amortisation)