Waterstones filed their annual report for the fiscal year ending a year ago, as of April 24, 2021, revealing a substantial decline in sales. The company reached sales of only £231 million in the year, down £135 million (or 38.5 percent) from £376 million in the prior year. Operating profit was £13 million (versus £30 million the year before) and profit before tax was £4.17 million (versus £23 million the year before). Those positive margins seem to have come from substantial government support — roughly £41 million during the reported period — and a reduction in force, with the average […]
