The retail empire controlled by the so-called 'Del Boy billionaire' and behind The Range and Wilko, has swung back into profit ahead of rescuing the Homebase brand, it has emerged.
Chris Dawson's Norton Group Holdings has recorded a pre-tax profit of £10.5m for the year to 2 February, 2025, fresh accounts lodged with Companies House reveal, as reported by .
The figure follows the group's pre-tax loss of £14m during the previous 12 months.
READ MORE: {}
Meanwhile, its turnover climbed from £1.29bn to £1.47bn over the same timeframe.
The Plymouth-based retailer salvaged the Wilko brand in September 2023 following a deal to acquire its website and selectively stock and retail some of its products.
The group made headlines once more when it purchased part of DIY retailer Homebase from administration in late 2024.
In its most recent accounts, the group stated that the 53 Homebase outlets it obtained are projected to contribute hundreds of millions of pounds in turnover during its current financial year.
Retail empire hails 'impressive' growth
A statement endorsed by the board declared: "The period ended 2 February, 2025, has been a successful period for the business as it posts significant revenue growth and a return to profits.
Most Read
"Whilst profits are respectable, these are even more impressive given the significant number of one-off costs the business carried through the year in relation to the integration of the Wilko website, opening of a new distribution centre in Stowmarket and recent acquisition of 53 previous Homebase stores."
The company stated that £104m of the revenue increase stems directly from its retail store portfolio.
It continued: "This revenue growth is even more impressive on the back of poor summer weather which directly impacted the sales of patio and outdoor living ranges."
The firm also noted that £60m of its revenue expansion resulted from incorporating the Wilko website, whilst The Range's online platform saw a £10m uplift.
The Range owner yes £1.7bn revenue
Regarding future prospects, it stated: "The group continues to face increases in its costs of goods, alongside the uncertainty surrounding energy costs.
"The material increase in National Living Wage is further squeezing profitability within the group, however, this is being offset by the efficiencies that are being driven within our stores and wider estate.
"Whilst this impacts the group, it also has the potential to impact our customers who are seeing their disposal income squeezed.
Don’t miss
"The group is well positioned to withstand these challenges operating in the value retail sector."
The company also indicated it anticipates turnover to exceed £1.7bn for its current financial year, which will enable it to "return to significant levels of profit moving forward".