Outdoor and indoor furniture retailer Whitehall Garden Centres has reported a growth in sales as turnover edged closer to £20m.
According to its latest filed accounts for the year ended 31 May 2022, total sales rose 4% to £18.1m from £17.4m in 2021. Pre-tax profit resulted at £167,000, down from £1.1m recorded the previous year.
Stated within its report, the company, which operates three centres in Lacock Wiltshire, Whitchurch Bristol and Woodborough Pewsey Wiltshire, said that the continued growth in turnover was due to the ongoing rebound following the Covid pandemic, especially in the hospitality offering.
“We are expecting to see continued revenue and margin growth in future years,” the business added.
Stock levels increased by 276% to £8.9m from £2.3m, which was funded through a reduction in cash of £4.8m, an increase in utilisation of its overdraft facility by £1m and an increase in trade creditors to £6.7m.
“Post year end, the company has seen strong sales and stock balance reduction is in line with forecasts.”