Technology repair chain iSmash missed its target to hit £12.5 million in turnover by £0.2 million in its 2017 financial year.
Speaking to Mobile News, iSmash managing director and founder Julian Shovlin (pictured above) attributed the missed target to the delayed opening of its London Underground kiosks in Bond Street, Bank and Oxford Circus.
The stations were scheduled to open during Q3 but were delayed until late Q4. The fi rm’s fi nancial year ended the three months ending December.
Shovlin explained there were more stringent guidelines to adhere to, which are to ensure kiosks don’t interrupt London Underground services, and it also took time to ensure safety measures were in place.
“We were just shy of £12 million by losing a few months of trade from those stores due to delays in the store opening process, but they all opened before Christmas,” said Shovlin.
“It’s more challenging and time consuming to open a store a in train station.
“Considerations such as terrorism and the fact that we are operating in a fully-operational transport link undoubtedly play a part in the increased health and safety measures that we must follow.”
The fledgling repair service provider served 420,000 customers to date, up from 350,000 in September. Staff numbers increased by 50 to now 200, across 28 stores in six UK cities.
Shovlin revealed the firm is on course to open 12 more stores including a new flagship in London and one in London Bridge.