Independent retail group Leekes has reported a growth in sales as turnover surpassed £50m.
According to its latest filed accounts for the year ended 31 March 2022, total sales rose 29% to £54.1m from £41.8m in 2021.
Gross profit increased from £15.6m to £21.2m, while EBITDA resulted at £5.5m, up from £4.1m recorded the previous year. Profit before tax and exceptional items stood at £3.9m, up from £2.1m.
Stated within its report, the group said that despite being impacted by the closure of its stores due to the pandemic, sales order growth generation recovered ‘extremely well’ in the year.
The company reinvested £1.8m of profits back into the business, while further substantial capital expenditure is planned for the year ahead including the refurbishment of the its flagship store in Llantrisant, South Wales.