Leekes Retail and Leisure Group has reported another rise in sales and profitability. The family-run business, which has been operating for nearly 120 years, reports that the strong trading reported in the year to 31st March 2016 continued into the first half of the current financial year.
Previously, the group achieved an increase in turnover of 10% to £78m in the year to 31st March 2016, which resulted in an increase in EBITDA of nearly 60% to £6m and an increase in pre-tax profits to £3.1m.
Now, in the first half of the 2016-17 financial year, it has seen a further increase in group revenues of 20% which, in turn, has resulted in an 11% increase in group EBITDA for the first six months to £3.8m and a pre-tax profit of £2.2m.
Emma Leeke, MD of Leekes Retail, says: “We are very pleased to report exceptional growth in both sales and profits across all business units in the retail business with furniture and furnishings, the accessories departments, conservatories windows and doors, bathrooms and kitchens all contributing significantly to both top- and bottom-line growth.
"Furthermore, it is encouraging to see that growth extending to the current financial year, with sales up 25% and profits up 65%. The acquisition of Park Furnishers Bristol in March of this year has particularly had a very positive effect on our results while the continued expansion of the retail business has resulted in us recently carrying out a considerable extension to our warehousing facilities in Mwyndy, Pontyclun with the assistance of a grant from the Welsh Government.”
Gerald Leeke, the group’s chairman, adds: “The group has invested over £18m in capital expenditure over the last two years, and it is very pleasing to see that investment paying dividend in the form of increased turnover and profits.”