Improved margins and operational efficiencies saw retail profits at Leekes top £1.2m in the past year.
The six store chain said the market had been ‘significantly affected by lower consumer demand for high value home purchases’ bu interest rates and inflation but it had ben able to lift gross margins by 270bp to 42.6%.
EBITDA was stated as £2.8m with pre-tax and exceptional items profits of £1.2m in the year to 31 March. The group has yet to file its audited accounts for the period.
‘We are delighted to report continued strong results despite the well-publicised challenges faced in the retail sector. Our excellent profitability over the past four years has enabled us to continue our programme of investing in significant capital expenditure in our retail business. We are excited by the successful opening of our newest store in Cheltenham last week and the imminent start of the final phase of the refurbishment of our flagship store in Llantrisant, South Wales,’ says Emma Leeke, Leekes Retail md.
The enlarged group, which includes the Vale Resort at Hensol, South Wales and its Hensol Castle distillery reported EBITDA of £6m and a profit before tax and exceptional items of £3.1m for the year.
