Quiz, Glasgow fashion firm, sees revenue rise 109%

Glasgow-based fashion firm Quiz said on Wednesday its revenue increased 109% to £36 million in the six months to September 30 “further to the removal of social restrictions increasing demand for occasion and dressy products and a period on period reduction in the amount of time stores and concessions were closed.”

Quiz reported: “Underlying EBITDA increased to a profit of £0.7 million (H1 2021: losses of £3.3 million) …

“The reported loss before tax amounted to £1.3 million (H1 2021: profit of £10.6 million).”

Quiz founder and CEO Tarak Ramzan said: Quiz has delivered an encouraging set of results during the period with strong cash flows generated and a return to positive EBITDA.

“The removal of the social restrictions resulted in a substantial uplift in revenues in the period, as customer demand for the brand’s dressy and occasion wear returned.

“The positive steps taken over the last 18 months with regards to restructuring our business, tight cost control and inventory management have all proved beneficial.

“Whilst there continues to be uncertainty in the short-term we remain confident in the strength of our brand and are highly confident that the clear demand for Quiz‘s trademark occasion-wear will support continued profitable growth.”

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Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.