Sale prospect of Garden Centre Group blooming
Tuesday 04 October 2011
More favourable weather and a stronger focus on plants has helped the Garden Centre Group return to sales growth this year after its profits tumbled in 2010.
The 130-store retailer, which is up for sale for as much as £300m, has grown total sales by 7 per cent so far this year, lifted by a storming performance on horticultural products during April's heatwave.
The Garden Centre Group, formerly called Wyevale, has also been boosted by its acquisition of Country Homes & Gardens in August. Before this, Lloyds Banking Group put the UK's biggest gardening specialist up for sale in July by hiring advisers at Rothschild.
Private equity firms and Tesco – which owns the Dobbies garden centre chain – as well as rival grocer Morrisons have requested to see sale documents for the Garden Centre Group. The chain's property has been valued at about £300m.
But the Garden Centre Group's pre-tax profits fell to just £860,000 in the year to 26 December 2010, down from £13.21m the previous year. The unfavourable weather conditions, notably the snow in December, contributed to flat like-for-like sales.
Oscar Pistorius trial: Defence's own witness contradicts athlete's version of events
Oscar Pistorius trial: The case against Oscar Pistorius – and why the prosecution claims his story doesn't add up
Man ruins 38 million gallons of drinking water by urinating in Portland reservoir
Peaches Geldof funeral: Private ceremony to be held at same place as her mother Paula Yates on Easter Monday
Shropshire criminals ‘using unmanned drones and infrared cameras to find illegal cannabis farms’ – and then steal from the growers
The food poverty scandal that shames Britain: Nearly 1m people rely on handouts to eat – and benefit reforms may be to blame
US Navy christens huge $3 billion destroyer ship USS Zumwalt that appears as a fishing boat on enemy radar
Scottish independence: It is the English who should be on their knees, begging the Scots to vote ‘No’
Nigel Farage fatigue? Half of voters ‘immune’ to Ukip’s appeal
Nigel Farage on Have I Got News For You: Ukip leader ridiculed over expenses and party 'fruitcakes'
Nigel Farage: I’m taking on the status quo, and the Establishment’s fighting back
- 1 Are you turning into your dad? The top ten signs you've embraced dad-ism revealed as survey says 38 is age men turn into their father
- 2 Video of British Muslims dancing to Pharrell Williams's hit Happy attacked as 'sinful'
- 3 Overheard in Waitrose: documenting the chatter in 'Britain's poshest supermarket'
- 4 24 people applied for the 'world's toughest job', here are their interviews
- 5 Grace Dent on TV: Game of Thrones has jumped the shark
iJobs Money & Business
£150.00 per week: QA Apprenticeships: This company has been providing on site ...
£221.25 per week: QA Apprenticeships: This company is a well established Inter...
£40000 - £50000 per annum: Harrington Starr: Client Relationship Manager - SQL...
£35000 - £50000 per annum: Pro-Recruitment Group: Take your chance to join the...