South Wales-based family business Leekes has reported another significant rise in sales and profitability, with its acquisition of Park Furnishers delivering a positive effect on results in the current financial year.
According to its latest figures in the year to 31 March 2016, total sales registered a 10% increase to £78m, which resulted in an increase in EBITDA of nearly 60% to £6m and an increase in pre-tax profits to £3.1m.
Now in the first half of the 2016-17 financial year, it has seen a further increase in group revenues of 20% which in turn, has resulted in an 11% increase in group EBITDA for the first six months to £3.8m and a pre-tax profit of £2.2m.
Commenting on the success of the retail sector within the Group, Emma Leeke, managing director of Leekes Retail, said: “We are very pleased to report exceptional growth in both sales and profits across all business units in the retail business 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.”
Gerald Leeke, the Group’s chairman 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.”