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Wilkinson Full Year Profits Rocket

Nicola Harrison - Retail Week

Value chain Wilkinson has had another strong year with profits more than doubling in the year to January 29.

Pretax profits rocketed from £29.5m to £65m in the year. Like-for-likes increased 2%.

Turnover climbed 7% to £1.6bn

The retailer said it was “particularly pleased with progress on profit”, which benefited from “investments in stores, supply chain, people and infrastructure” as well as a “focus on reducing cost”

Operating profits grew from £31.6m to £62.9m - a new company record.

The retailer said its fourth quarter was “particularly strong”.

Wilkinson added that it has prospered, “despite a gloomy economic climate that saw other retailers falter”.

The retailer opened 17 new stores last year and expects to open a similar number this year. “We have already secured the majority of sites,” it said.

23 June 2010
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Martin Elliott. Chief Executive - Home Hardware.

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