{"id":37748,"date":"2014-10-29T13:50:24","date_gmt":"2014-10-29T13:50:24","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/?p=37748"},"modified":"2014-10-30T13:11:17","modified_gmt":"2014-10-30T13:11:17","slug":"revived-jessops-buoyant-despite-2m-loss-since-start","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/revived-jessops-buoyant-despite-2m-loss-since-start\/","title":{"rendered":"Revived Jessops buoyant despite \u00a32m loss since start-up"},"content":{"rendered":"

The branch in Oxford Street, London, on the day it opened in March 2013 under Jessops’ new owner Peter Jones
\n<\/em><\/p>\n

Dragons\u2019 Den<\/em> entrepreneur Peter Jones took over Jessops on 1 February 2013, establishing the name ‘Jessops (Group) Limited’ on 27 March 2013. Trading started on 28 March 2013.<\/p>\n

As reported<\/a> earlier this month, Jessops made an operating profit of \u00a3282,293 for the year to 30 April. This related to the period after Jessops opened its first high-street branch (pictured above) and website under its new owner. The results beat Jessops’ original \u2018break even\u2019 forecast for the year, according to Jones.<\/p>\n

Profits made in the second half of the year to 30 April offset the loss from the first six months, when Jessops embarked on its phased-store opening programme.<\/p>\n

In his chairman\u2019s statement, accompanying accounts released exclusively to\u00a0Amateur Photographer<\/em>, Jones said: \u2018After the tremendous efforts of everyone involved, I am delighted with the period\u2019s performance and am looking forward with real optimism.\u2019.<\/p>\n

Jessops plans to open six new stores<\/a> by Christmas and recently announced a tie-up<\/a> with supermarket chain Sainsbury’s.<\/p>\n

Jones said he is \u2018extremely pleased to report that Jessops is back in business\u2019.<\/p>\n

He added: \u2018I have been passionate since day one about working with the team to find new ways to revitalise the business and it has been an incredible journey for everyone involved who\u2019ve worked tirelessly since January 2013 to help restore an iconic British brand.<\/p>\n

\u2018Even in the last 12 months the market has continued to evolve and develop at an incredible pace.<\/p>\n

\u2018The traditional entry-price \u201cpoint and click\u201d camera continues to decline as a result of the growing popularity of the smartphone which has, in turn, led to high-end DSLRs and mirrorless cameras taking an ever-increasing share of the UK imaging market.’<\/p>\n

Jones pointed out that \u2018capturing images has never been more popular\u2019, adding that \u2018our insight tells us that many of the customers that are new to photography first \u201ccaught the bug\u201d when capturing and editing using their smartphone\u2019.<\/p>\n

The accounts show that Jones made an interest-free loan of \u00a34.3m to the business \u2013 a figure included in the creditors list.<\/p>\n

Staff costs amounted to nearly \u00a36m, while lease expenses\u00a0exceeded \u00a32.2m for the period.<\/p>\n

Turnover for the 15 months stood at \u00a357.9m, during which Jessops had a \u00a32.5m bank loan, repayable on 7 October 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE: Jessops made a loss of \u00a32.1m for the 15 months to 30 April 2014, owing to the \u2018significant investment necessary to re-establish a nationwide retail business,\u2019 newly released accounts show. However, Jessops notched up an operating profit of \u00a31.8m in the six months to 30 April 2014, on sales of \u00a333m.<\/p>\n","protected":false},"author":324,"featured_media":9175,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39],"tags":[],"product-category":[],"class_list":["post-37748","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo-news"],"yoast_head":"\nRevived Jessops buoyant despite \u00a32m loss since start-up<\/title>\n<meta name=\"description\" content=\"EXCLUSIVE: Jessops made a loss of \u00a32.1m for the 15 months to 30 April 2014, owing to the \u2018significant investment necessary to re-establish a nationwide retail business,\u2019 newly released accounts show. However, Jessops notched up an operating profit of \u00a31.8m in the six months to 30 April 2014, on sales of \u00a333m.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/revived-jessops-buoyant-despite-2m-loss-since-start\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revived Jessops buoyant despite \u00a32m loss since start-up\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE: Jessops made a loss of \u00a32.1m for the 15 months to 30 April 2014, owing to the \u2018significant investment necessary to re-establish a nationwide retail business,\u2019 newly released accounts show. 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