Leekes upbeat as retail and leisure deliver growth
Retail and leisure group Leekes has matched last year’s profits in the first eight months of this financial year.
The group said EBITDA in the year to 31 March was £4.3m from sales of £85m. ‘Now in the first half of the 2018-19 financial year, we have seen a further improvement in group turnover and profits with the directors delighted to announce that the group has already achieved last year’s EBITDA after just eight months of trading,’ said Gerald Leeke, Leekes chairman.
‘We are very pleased to post a great set of results in what has been a particularly challenging retail environment. Our trading in the first half of this year has also been exceptional with retail profits up substantially as a result of the excellent performance of our conservatory, window and door division as well as our fitted kitchen and bathroom departments,’ said Emma Leeke, Leekes retail md.
‘We are delighted to report strong sales and profits for the Vale Resort with excellent levels of growth in bedroom and food and beverage revenues together with encouraging improvement in resort membership numbers and spa business. The growing popularity of the function and venue at Hensol Castle has been a substantial contributor to these results with over 160 weddings taking place at the Resort in the last year. We are also extremely pleased to continue to be the official hotel for both the Welsh national rugby and football teams,’ said Stephen Leeke, Vale Resort md.
‘The Leekes Retail & Leisure Group invests heavily in capital expenditure projects aimed at continuing to develop the business and provide additional income streams to further strengthen the business. We have also diversified into property development over recent years and are delighted that this policy of recycling and reinvesting our profits has helped ensure the group continues to trade strongly in an uncertain economic environment,’ added Gerald Leeke.