H1 revenue up 35% at Glasgow fashion firm Quiz

Glasgow-based fashion firm Quiz said its revenue increased 35.2% to £56.1 million and underlying profit before tax rose 31% to £4.8 million in the six months to September 30, 2017.

Quiz said it remains confident of delivering further growth for the full year and its shares rose 6%.

Quiz  founder and CEO Tarak Ramzan said: “We are pleased to report a very good performance for the Quiz brand in the first half of the financial year with strong growth delivered across each of the brand’s distribution channels, most notably online and international.

“The group’s strong performance is a reflection of the growing awareness of the Quiz brand and increasing demand for our products that offer the latest glamorous looks and occasion wear at great value.

“Current trading has remained strong since the period end and, underpinned by our strong collections, the group enters the important Christmas trading period with good momentum.  

“The board remains confident of delivering growth across all channels for the full year.”

In its outlook for the rest of the year, Quiz said: “Since the end of H1 2018 we have continued to trade well.

“Underlying sales, excluding non-recurring wholesale revenue in relation to Spain in the year ended 31 March 2017, in the seven weeks to 18 November 2017 are up 32.9% year on year, in line with our expectations, and are continuing to be driven by growth across all channels.

“Our strong growth, supported by very positive customer feedback on our collections, is encouraging as we enter the important Christmas period and the board remains confident of delivering further growth across all channels for the full year.”