TRADING STATEMENT FOR THE SIX MONTHS ENDED
30 JUNE 2014
I am pleased to provide a trading update for the first six months of 2014, in advance of the interim results to 30 June 2014 that we expect to announce in the first half of October 2014.
- Total garden centre sales are up 15% or £3.5m on 2013
- Like-for-like garden centre sales, excluding the new acquisition Fermoys, are up 9% or £2.1m on 2013
- Total restaurant sales are up 13% or £0.7m on 2013
- Like-for-like restaurant sales, excluding Fermoys, are up 8% or £0.4m on 2013
- Payroll and other costs to the end of June 2014 are in line with expectations
- Full year profit before tax as at the AGM was forecast to be £4.4m but this may be revised upwards if trading continues to exceed last year's figures
- Chairman Geoff Dorey comments, "The first half of 2014 has been very positive. Trading during the key gardening season has been strong and we look forward with confidence to the opening of Phase 2 of Redfields in September, and of course the important Christmas period."
Group Finance Director and Company Secretary