Highland Group Holdings, the parent company of House of Fraser, has announced the department store group's half year trading details for the 26 weeks to 1 August 2015.
Total gross transaction value increased to £574.2m, a like-for-like sales rise (excluding VAT) of 6.5%.
Online sales (excluding VAT) increased by 30.8%, and now represent 17.5% of sales (2014/15: 14.2% of sales). Continued sales growth in bricks and mortar stores saw like-for-like sales growth (excluding VAT) of 2.0%.
Gross profit of £204.7m has seen an £11.3m rise over last year. Adjusted EBITDA for the first half increased to £9.2m (H1 2014: £8.6m), an increase of 7.0%.
Extensive refurbishment work recently completed in Huddersfield and Lincoln, with upgrades and improvements to Metro Centre, City, Bluewater and Leeds underway, due for completion ahead of peak Christmas trading.
Also, the firm is to anchor a new shopping development in Rushden Lakes in Northamptonshire, due to open in 2017.
Nigel Oddy, CEO said, “We are pleased with the continued sales and profit growth in the first half of this year. Both stores and online have delivered positive sales and margin growth, building on the performance we have seen in both these channels in recent years, demonstrating the truly multichannel nature of our business.
“We have continued to invest in our UK business to remain at the forefront of retail innovation by developing our multichannel offering, enhancing our store portfolio, growing House Brands and introducing exciting premium brands. This focus on our key strategic pillars has also been reflected in our current trading.
“We continue to make progress on our international expansion plans and remain excited by our future growth opportunities both in the UK and abroad.”