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Leekes rakes in pre-tax profits of £2.2m for H1

Published: 20 October 2016 - Jenny Wonnacott
The Leekes family-run business has been operating for nearly 120 years
The Leekes family-run business has been operating for nearly 120 years

Group revenues were up 20% for the period, resulting in an 11% increase in group EBITDA for the first six months, bringing the total to £3.8m and a pre-tax profit of £2.2m.

The company incorporates several department stores across Wales and England as well as the Vale Hotel, Golf and Spa Resort at Hensol. The business recently built upon its expanding offer with the acquisition of Park Furnishers in Bristol.

Said Leekes Retail managing director Emma Leeke: "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.”

Group chairman Gerald Leeke added: "The Group has invested over £18m in capital expenditure over the last 2 years and it is very pleasing to see that investment paying dividend in the form of increased turnover and profits.”

Source: DIYWEEK

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