Leekes Retail & Leisure Group, which operates five Leekes home department stores across south Wales, south-west England and the Midlands, has reported significant sales and profitability growth in the year to March 31.
The Group achieved a £1.6m improvement in profitability achieving an EBITDA of £3.8m. The first eight months trading of the 2015-16 financial year has shown continued improvement in trading, resulting in the Group already exceeding last year’s full year profit position with a Group EBITDA of £4.5m: 55% up on the same period last year.
Leekes said its retail business has ‘capitalised on improving consumer confidence and increased activity in the housing market,’ and last financial year delivered a 6% like-for-like sales growth in its retail division, leading to substantial improvements in profits. Particularly strong performances were seen in the larger investment categories such as conservatories, windows & doors, kitchens & bathrooms and furniture & furnishings.
Commenting on the trading success of its home department stores, Leekes Retail managing director Emma Leeke said: “We have continued to make a significant investment in our retail business in recent years with the opening of our new flagship store in Coventry in 2012, and a £1 million modernisation programme at our Cross Hands store, as well as the refurbishment of our kitchen and bathroom studios in all stores. We are delighted to see that this continuing investment, coupled with the improving economic conditions, is having a significant effect on both our sales and profitability.
“Our strong sales performance has continued to build this financial year with the business delivering double digit year-to-date sales growth, which means that we can look forward to further improvements in profitability over the remainder of our financial year.”
Leekes is an independent, family owned company based in South Wales with over 115 years of trading history. The business operates five home department stores in Coventry and Bilston in the West Midlands; Llantrisant, near Cardiff; Cross Hands, Carmarthenshire; and Melksham, Wiltshire. It also has a Builder’s Merchant in Tonypandy, in the Rhondda Valley. The company runs a fully transactional website at leekes.co.uk, a conservatory site at conservatories.leekes.co.uk and a kitchen site at kitchens.leekes.co.uk.
In addition, Leekes operates four concessions within garden centres selling conservatories, orangeries, windows and doors. These are located at The Garden Centre Group outlets in Thornbury, Swindon and Hereford as well as Caerphilly Garden Centre.