Furniture and homewares department store Leekes has reported significant progress made in recent years in its financial year to 31st March 2016, with EBITDA profits exceeding £6m.
Leekes Retail revealed a like-for-like sales growth of 12% to £70m, coming off the back of a 6% increase in the previous year. In the Furniture and Furnishings business unit, sales were up 7%, with strong growth also generated in the home accessories departments, up by 23% and garden furniture, up by 40%.
The 115 year-old business, headquartered in South Wales, said that continued investments within the retail business was paying off as its Coventry and Bilston stores saw positive sales growth of 17% and 13% respectively.
Emma Leeke, managing director of Leekes Retail, 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. 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.”
Group chairman, 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.”