Buoyant demand at Robert Dyas

Robert Dyas, the hardware store chain acquired last year by Change Capital Partners, saw a 6 per cent jump in underlying sales in the run-up to Christmas, indicating buoyant demand for its hardware, which ranges from hosepipes to kettles.

The group, subject of a Pounds 61m buy-in by CCP, Luc Vandevelde's private equity vehicle, said total sales in the four weeks to Christmas day rose 16 per cent, helped by 10 new stores, taking the total to 85.

For the nine months to December 25, sales rose 8 per cent on an underlying basis - stripping out new stores' contributions - and 25 per cent in total.

"Our performance is well ahead of internal targets helped by an accelerated store opening programme," said Alan Smith, who became chief executive after the deal.

Dyas aims to double the number of stores to 150 by the end of 2007, including a 25-store increase this year.

Dyas was CCP's first deal, followed by Hillary's Group, a made-to measure window blind specialist acquired in July for £115m.

Hillarys also closed the Christmas period with bumper sales. Revenues rose 7 per cent for the first quarter, with pre-tax profit set to be 15 per cent up on last year.