Norfolk department store retail group grows top and bottom lines

The parent company of Holt-based home furnishings department store retailer Bakers & Larners has reported a growth in turnover as sales climbed towards £20m.

According to its latest filed accounts for the year ended 28 February 2022, total sales rose 20.2% to £19.6m from £16.3m in 2021.

Gross profit increased from £1.7m to £3.3m, while pre-tax profit resulted at £1.2m, up by 35.7% from £884,000 on the previous year.

Stated within its report, the company said that the year was one of its most challenging in its history, which saw a fire completely destroy its supermarket division, Budgens of Holt, while lockdowns impacted its department store.

Since then, the business has responded well as it looks to continue momentum into the future. During the year, Carl Milton was appointed as its new managing director, who joined the business with over 25 years of experience in department store retailing.

This will ‘aid the acceleration on delivering the boards aspirations for Bakers & Larners’, the group said, adding: “Carl’s appointment has been very well received and he has already made some very positive contributions to the group operation.”

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