Flying Tiger Copenhagen, the Danish retailer reported a 4.5% year-on-year growth in revenue to £570 million and a 3.2% rise in like-for-like sales. The retailer said revenue performance was largely driven by “very strong” product campaigns, especially around Halloween and Christmas in the fourth quarter. Its adjusted EBITDA grew to £13 million, while net profit for the year amounted to £2.7 million.

Its five largest markets contributed to 56% of total revenue with Italy generating the most, followed by Spain, the UK, Denmark and Portugal. The retailer is continuing its expansion with new stores across seven new markets in 2024 with the first opening in Bahrain in February, but will soon open in Oman, Malaysia, Singapore, Thailand, Turkey and Vietnam. Flying Tiger is “positive” about its future outlook and expects group revenue to increase by 7% and 10% in 2024.