Following the recent announcement that the executive board of directors completed the management buyout of the Lee Longland Group, the business has declared impressive growth results for a fourth consecutive year.
Lee Longlands, which boasts stores in Birmingham, Cheltenham, Leamington Spa, Abingdon and Derby, saw gross sales hit £18.7m last year, an 8.5% (average) year-on-year increase since the business was restructured by the current board back in May 2011.
The company’s operating profit increased by 20% on the previous 12 months to over £460,000, with the net profit (after tax) increasing by 30% to nearly £404,000.
During the year the business continued with its rebranding strategy by introducing its new logo and See a different world marketing collateral. It has also just refurbished its flagship Birmingham store on Broad Street.
“Since we took the business back to its core roots, some four years ago, we have concentrated on protecting the fundamental values, which the business was built upon. This has been achieved by focusing our attention on continuously enhancing the customers' buying experience,” says Darren Campo, financial director.
“We have also invested heavily in key areas of the business including the recent addition of six new Mercedes Benz trucks to our distribution fleet, for which we are undoubtedly now seeing the benefit in the form of sustained and profitable growth.”