Online retailer Online Home Shop increased dividends by more than a quarter to more than £3m in the past year.
The company, which saw sales rise by almost a quarter helped by an expansion into furniture, paid £3.029m for the year ended 31 January, an increase of £619,000.
Parent company OHS Holdings is controlled by the founding Cohen family.
Sales jumped by 24.6% to £59.5m, with operating margin dipping from 8.7% to 8.4%. The company says this ‘reflects a significant investment in the infrastructure and leadership of the business to support the rapid growth in turnover in recent years. This investment continues to provide a more robust platform to support the continued growth in the company. The net profit before taxation of the company was £5m which is £0.8m up on the prior year due to the growth of the company and continued focus on profitability.’
Staff numbers rose from 148 to 181 during the year.
The company says that sales have increased by more than 60% in the first half of the current year, with sales expected to top £85m this year.
‘At OHS, our mission is to consistently surprise and delight our customers with high-quality, trend-led products at unbeatable prices – making stylish living accessible for every home. As we look to the future, our focus remains on delivering quality, on-trend homeware that suits every style and every budget,’ says Moshe Cohen, Online Home Shop ceo.
Cohen founded the company 11 years ago alongside his father Max – who are the major shareholders of OHS Holdings – and brother Gav.
