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leekesCovLeekes’ home department store business returned to profit at the EBITDA line in 2014–15 on the back of strong revenue growth.


The Midlands and Wales business — part of a privately owned group that also runs the Vale Golf and Hotel resort in Wales — said sales grew £4m to around £59m in the year to end March.


That helped drive a £2m profits uplift resulting in EBITDA for the retail division of £1.7m, the company said. Group profits including its leisure arm were up 70 per cent to £4m on sales of £75m.


Leekes Retail md Emma Leeke said: “There has been a noticeable acceleration in the sales growth in recent months, with the forward order sales pipeline now up by nearly 30 per cent — which should ensure that our significant improvement in profitability will continue into 2015–16.


“It is particularly pleasing to see the considered purchase departments including kitchens, bathrooms, conservatories, windows and doors all achieving double-digit growth, as well as strong sales in our core furniture and furnishings departments.”


Leekes trades from five home department stores — all over 100,000sqft — in locations spanning Bilston and Coventry in the Midlands; Cross Hands and Llantrisant in Wales; and Melksham in Wiltshire. It also trades online and from a number of concession in garden centres.


The wider group has also recently agreed a new £28m banking facility with Barclays Bank and Lloyds Banking Group, it added.


* 2014–15 accounts yet to be filed; information pre-released by Leekes