Archive News

2006 could be another record-breaking year

With Group revenue up by 26 per cent and pre-tax, pre amortisation profits up by 22 per cent, the interim results for the six months to 31 January 2006 have laid the foundations for what could be another record-breaking year.

"We're extremely pleased with the figures," says Group Chief Executive Charlie Banks. "This has been an excellent six months, particularly in the light of the structural changes and investments we've made.We've continued to grow both sales and profits while also
expanding our product and geographic diversity.

This set of figures is a powerful springboard for another high-performance year.
"The economy in North America continued to be strong, and our ongoing investment in people, acquisitions, and supply chain mean that we are well positioned to take full advantage of this positive market. In the UK, we have made good progress with our £100 million investment in logistics and the supply chain, and the new national distribution centre is scheduled to open in the Autumn.

The UK team have relocated across to their new headquarters building, and despite all this change and investment, the UK business still recorded a very good six months at a time when some competitors have seen a like-for-like sales decline. Continental Europe has been less robust, although we've seen good performances in Italy,Holland and Switzerland. The European team has undergone significant reorganisation while planning major investment in the supply chain. We're putting in place the foundations for faster growth and for taking market share in the future. For example, in France we're streamlining the organisation to position ourselves as a highly efficient business,
leveraging our size to become even more competitive."