New figures show that Smyths, the family-owned Irish retailer, enjoyed strong growth in 2017 as sales in the UK surged by 11 per cent to a record £475.7 million (€534.5 million).
Smyths Toys has recorded sales of more than half a billion euro across its expanding UK operations for the first time in its 11 year history.
Pre-tax profits increased by 18 per cent, going up from £10.1 million to £11.88 million, boosted by popular toys like LEGO and Shopkins.
The business, led by four brothers – Anthony, Liam, Patrick and Thomas – first entered the UK market in 2007 and business has grown exponentially since then. The latest increase in revenue follows sales growth in 2016 of 19 per cent and a 30 per cent hike in 2015.
Earlier this year, Smyths Toys purchased the Toys R Us business in Germany, Austria and Switzerland. The €79 million deal adds a further 90 stores to the Smyths Toys group, bringing the total to around 200 in Ireland, the UK and Europe.
Of the UK performance, the media shy directors say they are very pleased with the increase in profit, particularly given the current economic climate and the increased competition in the marketplace.
