Blackcircles ‘growing’ revenue through 1,200 fitting centres
The £50 million sale of Blackcircles will have generated a significant windfall for the firm’s founder (Mike Welch, left) and key share holder of around 25 per cent (Sir Terry Leahy, right). Some of the money has been put into the establishment of the Welch Trust, which focuses on children’s causes.
Blackcircles.com has announced a growth in revenue of 20 per cent to £27.8 million (versus £23.2 million in 2012). The online tyre retailer said that the latest full year results mean its revenues have a compound annual growth rate of 22 per cent since 2008. EBITDA increased to £1 million. The results follow the announcement of former Tesco chief executive Sir Terry Leahy’s appointment to the Blackcircles.com board.
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