Turnover rises but profits drop at Dobbies Garden Centres

Dobbies Garden Centres has seen its profits dip from £7.3 million to £6.7m in its most recent financial year.

Latest accounts reported an increase in turnover from £137.4m to £142m in the 12 months to February 23.

Average staff numbers were steady at 2,845 but the number of full-time equivalent workers fell steeply from 2,223 to 2,042.

Directors' emoluments rose from £511,000 to £924,000 with the highest paid seeing their rewards increasing from £283,000 to £487,000. The accounts state more than £704,000 was paid out to directors for loss of office. Among the directors who resigned during the financial year were chief executive James Barnes and finance director Sharon Brown.

Andy King is now chief executive.

Dobbies said: "Our focus on high quality home and garden products, combined with expert in-store advice, wide-ranging concessions and good-value food offerings continues to deliver an appealing leisure destination for our customers."

Dobbies has a 30 per cent off furniture Black Friday promotion. It has not new store openings planned in the next few months. An East Kilbride store is still being reviewed.

Source : Matthew Appleby - Horticulture Week
www.hortweek.com