Robert Dyas plans for aggressive expansion

Hardware store chain Robert Dyas is planning to step up expansion this year with an aggressive opening campaign.

The company's plans have been boosted by strong trading in the run-up to Christmas when sales jumped 16 per cent.

Privately owned Dyas was bought for £61million last March by private equity firm Change Capital Partners, where former Marks & Spencer chairman Luc Vandevelde is on the board.

Change wants to increase the number of stores from 85 to 150 by the end of 2007 and aims to open 25 in 2005, more than previously planned.

Dyas, which is strongest in the London area, saw vigorous sales of products ranging from hosepipes to kettles.

Total sales rose 16 per cent in the four weeks to Christmas, lifted by 10 store openings during the year. Stripping out new stores, underlying sales were 6 per cent higher. That took the increase in total sales for the nine months to December 25 to 15 per cent, with like-for-like sales of 8 per cent.

"Our performance is well ahead of internal targets helped by an accelerated store opening programme, " said Dyas chief executive Alan Smith.

Window-blind supplier Hillarys Group, bought by Change for £115million in July, reported 2004 sales up nearly 9 per cent to £85.3million and operating profits up 27 per cent to £13.3million.