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Sales And Profits Slip At Dobbies

Dobbies-Garden-Centre-Midlothian 725 x 500

Garden centre chain Dobbies has reported a decline in sales and profits in its latest accounts which cover the 52 weeks ended 28th February 2018.

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.

Profit before tax was £5.1m (2017: £8.4m) and sales were £143.8m (2017: £150.5m).

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 sales growth of over 11%, year-on-year. 

In October of this year, it was announced that Dobbies had bought five garden centres from one of its largest competitors, Wyevale, and these are understood to have traded in-line with expectations.

Less than two weeks after the announcement, Dobbies confirmed the purchase of Wyevale's Woodcote Green garden centre in South London.  The acquisition brings Dobbies' total network to 40 centres, 15 of which are in Scotland where its head office is located.

Graeme Jenkins, CEO of Dobbies, said: “Dobbies has delivered a strong trading performance so far this year. This gives us a solid foundation for growing the business organically and through further acquisitions.”

“Our trading performance is a credit to the team who have focused on understanding what Dobbies customers want and in turn re-establishing our range authority. We have also started to invest across the estate to expand our offer and improve our customers’ shopping experience at Dobbies.”

Source : Insight DIY Team

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05 December 2018

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