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Leekes delivers £2m profit boost in end-of-year results

Published: 27 June 2016
Leekes department stores and the Vale Resort have delivered strong growth as part of the Leekes Retail and Leisure Group, achieving a £2m improvement in profitability in the year to March 31, 2016.
Leekes delivers £2m profit boost in end-of-year results
Leekes retail achieved 12% like-for-like growth in turnover, up to £70m. The business is particularly pleased with the result as it comes on the back of 6% improvement in the previous year's sales.

The retail business has capitalised on improving customer confidence and increased activity in the housing market. Particularly strong performances were seen in the larger investment categories such as conservatories (up 34%), windows and doors (up 14%) and kitchens (up 6%).

In addition, as well as confirmed impressive performances in the furniture and furnishings business unit where sales were up 7%, strong growth was also generated in the home accessories departments (+23%) and garden furniture (+40%).

Leekes Retail managing director Emma Leeke said: "We have continued to make significant investments in our retail business and it is extremely encouraging to note that this investment is paying dividends with Coventry Store sales up 17% in 2015/16 and, after several years of successive growth, the Bilston Store was yet again up 13%.

"We are pleased to be continuing with this expansion with the exciting recent acquisition of Park Furnishers of Bristol which will add a further £10m to turnover."

Chairmain Gerald Leeke added: "With support from our banking partners Barclays and Lloyds, we continue to invest across our retail and leisure businesses and are delighted that our trading across the group demonstrates the success of this strategy."

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