Thursday, April 16, 2015

News: Maplin's sales surge

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Rotherham-based electronics retailer, Maplin has reported sales of £237m as part of its year-end results, the first results after the £85m sale to new owners, Rutland Partners.

Manvers-based Maplin sells a range of products to tech-savvy hobbyists as well as general consumers and now operates from 218 stores.

The latest yearly sales figure climbed 6.3% to £237m and marks six consecutive quarters of positive growth. It is up up from £100m when Montagu Private Equity acquired the business in 2004. Like-for-like sales were up by 4.3% and online sales, which now represent almost 10% of total sales, recorded full year growth of 20.6%.

Maplin has nearly tripled its product range in two years and some of the top selling products in the year included drones, CCTV cameras, portable power, powerline adaptors and the 3Doodler, the world's first 3D printing pen.

New initiatives such as reserve at store, and click and collect were key drivers of the growth. Maplin also partners with Shutl to offer a same day delivery service which includes an ASAP delivery service which could see goods delivered within as little as 90 minutes.

In October, Maplin opened its first trade store in Sheffield aimed specifically at sole traders and small businesses.

John Cleland, chief executive at Maplin, said: "This has been another positive year’s performance for Maplin. The results show that our focus on improving the Maplin product and service proposition, along with our commitment to the best customer experience, are all working extremely well.

"Whilst there has been substantial investment in changing Maplin, the improvement in profitability is encouraging and gives us a really strong platform for continued future growth.

"In the year ahead we will continue to unite our sales and service channels for the best customer journey and will continue to invest in the help and advice our colleagues provide, as well as continuing to support product innovation."

Launched by two technology enthusiasts in 1972 who were frustrated by the lack of good quality electronics components, Maplin Electronics became the experts' choice, with a reputation for the best product range and expertise. In 2008 they moved to a 220,000 sq ft state of the art distribution centre and head office at Brookfields Park in Rotherham.

Maplin website

Images: Maplin

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