HOMEWARE

Sales fell 6% for major housewares distributor before Typhoon buy

27.07.2010

North west housewares supplier Rayware moved back into the black at pre-tax level in 2009 despite turnover dropping 6.2% to £20.75m.

It returned a five figure profit after making a £78,868 loss before tax in 2008. At EBIT* level, profit dropped year on year by 10.4% to £0.654m.

The group grew through acquisition earlier this year when it bought the intellectual property and stock of rival homeware company Typhoon from its administrator, MCR.

* EBIT, earnings before interest and tax