Dobbies Reports Strong Christmas Trading

Dobbies has reported strong Christmas trading, sales of £24.1 million in the six weeks to December 30th, 2018; a 21% rise compared with the previous year.

The garden centre chain confirmed that like-for-like sales rose by 8% compared with 2017, thanks in part to record Christmas tree sales and restaurant usage.

Cash margin was also notably better than 2016 and 2017, according to CEO Graeme Jenkins.

Andrew Bracey, chairman of Dobbies, said:

“With this critical trading period following closely after the acquisition and successful integration of six new centres, we are very pleased with the progress that has been made."

Dobbies had reported a significant decline in sales and profits in its latest accounts for the year ended 28th February 2018, with profit before tax down to £5.1m from £8.4m and sales of £143.8m down from £150.5m.  The figures represent the first full year of trading since it was sold by Tesco to Midlothian Capital Partners and Hattington Capital in 2016, in a deal worth £217m.

Dobbies stated that a 'shake-up' in the business is underway, with a new leadership team - Graeme Jenkins took on the role of CEO in July 2018 - having completed a strategic review of the business which it says has already delivered benefits, including six consecutive months of strong sales growth.   

Source : Insight DIY Team 

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