Roger Dyson and Ian Edmunds presented financial and trading updates, together with details of a number of new initiatives which the group will be introducing this year. The session was closed by a frank open forum discussion, where suppliers’ questions were answered by Roger Dyson with a refreshing degree of openness and honesty.
Toymaster’s 2013 accounts show a modest decline in both revenue and profit compared to the previous year, but considering these figures take into account the impact of the demise of Conways just before Christmas, they demonstrate that the Toymaster business model is both solid and sustainable. The fact that the group has no debt allowed it to cope with Conways administration and ensure that all suppliers were paid in full.
Encouragingly, seven of Toymaster’s top 10 members traded up in 2013, and it was also interesting to note that eight of its top 10 members in 2013 were new to the group since 2006. It was revealed that 75 members have been replaced since 2006, giving Toymaster a current total of 160 members (250 stores).
New initiatives revealed by Ian Edmunds included greater use of social media, the reintroduction of the Toymaster online forum and the Toymaster catalogue going online for the first time in 2014, complete with a new ring and reserve facility.
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