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Leekes stores add £4m of sales in full year

Published: 26 May 2015
A robust performance by the retail division of Leekes Retail & Leisure Group helped deliver a strong set of results for the year to March 2015.
Leekes stores add £4m of sales in full year
The group, which comprises The Vale Resort along with five home department stores, achieved an annual turnover of £75m - up 6% on a like-for-like basis - and a 70% increase in EBITDA to £4m.

The retail division achieved an EBITDA of over £1.7m for the year.

The independent, family-run company has continued making substantial investment in its retail business in recent years, including the opening of a new flagship store in Coventry in 2012, a £1m modernisation programme at the Cross Hands, Carmarthenshire store, the refurbishment of kitchen and bathroom studios across the store portfolio and a substantial upgrade of its online platform.

The group recently secured a new £28m banking facility with Barclays and Lloyds to fund its continuing expansion.

Commenting on the success of the home department stores, Leekes Retail managing director Emma Leeke said: "With our continued investment in our stores, coupled with improvements in both the housing market and consumer confidence indicators, we are delighted to report a £2m profit improvement this year, with £4m of sales growth driving the bottom line.

"There has been a noticeable acceleration in the sales growth in recent months, with the forward order sales pipeline now up by nearly 30%, which should ensure that our significant improvement in profitability will continue into 2015/16.

"It is particularly pleasing to see the considered purchase departments including kitchens, bathrooms, conservatories, windows and doors all achieving double-digit growth, as well as strong sales in our core furniture and furnishings departments."

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