Leekes Retail & Leisure Group has reported significant sales and profitability growth in both the year to 31st March 2015 and in the eight-month post year-end trading period to 30th November 2015.
The group achieved a £1.6m improvement in profitability in the year to 31st March, achieving an EBITDA of £3.8m. The first eight months trading of the 2015-16 financial year has shown continued improvement in trading, resulting in the group already exceeding last year’s full-year profit position with a group EBITDA of £4.5m – 55% up on the same period last year.
In the last financial year the retail business delivered 6% like-for-like sales growth in its retail division, leading to substantial improvements in profits. Particularly strong performances were seen in the larger investment categories such as conservatories, windows and doors, kitchens and bathrooms and furniture and furnishings.
MD of Leekes Retail Emma Leeke says: “We have continued to make a significant investment in our retail business in recent years with the opening of our new flagship store in Coventry in 2012, a £1m modernisation programme at our Cross Hands store as well as the refurbishment of our kitchen and bathroom studios in all stores. We are delighted to see that this continuing investment, coupled with the improving economic conditions, is having a significant effect on both our sales and profitability.
"Our strong sales performance has continued to build this financial year with the business delivering double-digit year-to-date sales growth, which means that we can look forward to further improvements in profitability over the remainder of our financial year.”
Chairman Gerald Leeke adds: “With support from our banking partners, Barclays and Lloyds, we to continue to invest across our retail and leisure business, and we are delighted that our trading both last year and this year to date demonstrates the success of this strategy.”
