UK: British Garden Centres sees £15.4m sales hike after huge Wyevale buy-out

British Garden Centres’ transformative year saw turnover increase by almost 50 percent as it more than doubled the number of outlets operated.

The Lincolnshire-based horticultural retail specialist swooped for 45 new locations from operator Wyevale, increasing its presence significantly in the south, while bolstering other regions.

It saw sales hit £49 million in the calendar-aligned year for 2019, with gross profit up £3 million to £12.2 million. Operating profit came in slightly below 2018’s £2.7 million at £2.5 million.

Headquartered in Alford, with the flagship store in Brigg, as a company it retains the original Woodthorpe Hall Garden Centres name - but switched the brand several years ago. The phased transactions completed this time last year.

In his annual report, director Robert Stubbs said: “The directors are pleased to report another very good year of trading, The group has undertaken a substantial acquisition programme during the year resulting in the number of centres operated more than doubling. Turnover increased by approximately 50 per cent (46 per cent) due to this expansion with gross margins falling slightly as the acquired centres were integrated into the business and stock sold off.

Read on at BusinessLive

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