In an exceptionally challenging year for retail, Leekes Retail and Leisure Group is fanfaring another year of strong results, with the excellent trading reported in the year to 31 March 2018 continuing into the first half of the current financial year.
The Group (based in South Wales) achieved turnover of more than £85 million in the year to 31 March 2018, which resulted in an EBITDA of £4.3m and strong pre-tax profits. In the first half of the 2018-9 financial year, Leekes has seen a further improvement in group turnover and profits with the directors announcing that the Group has already achieved last year’s EBITDA after eight months of trading.
Commenting on the success of the retail sector within the Group, Emma Leeke, managing director of Leekes Retail, said: “We are very pleased to post a great set of results in what has been a particularly challenging retail environment. Our trading in the first half of this year has also been exceptional, with retail profits up substantially.”
Amanda Reed, buying controller commented on a positive performance for housewares at Leekes. She reflected: “In a time of uncertainty and change our housewares business has needed to change more quickly and be more focussed and sure in its presentation both in store and online. Attention to competitor’s activity and matching where possible has given the customer the confidence to continue to shop with Leekes, with the likes of Le Creuset, Duraforge and Denby performing ahead of plan and newness from Creative Tops adding zest to a relatively flat tableware market.”
Meanwhile Gerald Leeke, the Group’s chairman explained: “The Group invests heavily in capital expenditure projects aimed at continuing to develop the business and provide additional income streams to further strengthen the business.” He added: “We have also diversified into property development over recent years, and are delighted that this policy of recycling and reinvesting our profits has helped ensure the group continues to trade strongly in an uncertain economic environment.”
The Leekes Retail and Leisure Group is a family-run business, which has been operating for over 120 years. It comprises a portfolio of Leekes home department stores together with the Vale Resort at Hensol.
Top: The Leekes Retail and Leisure Group is seeing record profits.
