In This Issue
MEP's vote to ban glyphosate completely by 2022
Bunnings to test smaller format stores in urban areas
Bents open Winter Food Market in Open Skies
Xylella fastidiosa: UK secures added EU protections
New £1 million garden centre creates 25 jobs
Garden King to open 'Granny Grotto' supporting Alzheimer's Society
Hot October dents gardening but Christmas sales grow
Industry backs Glee at Spring Fair 2018
Breaking new ground at Allensmore Nurseries
Cultivation Street announces new sponsor for 2018
DLF Seeds Ltd confirms exclusive deal to distribute MossOff Chemical Free in UK
Haskins in Roundstone supports sensory room project
HRFC Colts are in the pink thanks to Outback
Thrive gardeners visit Notcutts Oxford and create a haven for wildlife
Dobbies name two Christmas Charities for the first time
Get your own copy of GTN Xtra
Fordingbridge chairman Edward Way retires
Suki Angels and Snowmen lead the way
Pumpkin twins’ giant beats their own record!
Gardening in pots drives garden product sales
Dare to be different! Programme update for HTA Marketing Forum
Preparing for next year
GARDENA unveils new route to market with sales agents
Orchid sales up by 70%
The best of last week's
Gardman reports £1.5m loss - but earnings soar by 50%
Xylella fastidiosa: how Italy has tackled the problem
Yobs smash up community garden centre
Bestsellers Top 50 charts every week
Buy your subscription to GTN Bestsellers
All the latest news from the world of garden centre catering
CEO of Jamie's Italian confirmed for headline keynote at Casual Dining
Send us your news and great ideas

Contact us with your news. 

Email neil.pope@tgcmc.co.uk, or trevor.pfeiffer@tgcmc.co.uk or call the GTN News team on 01733 775700


Gardman reports £1.5m loss - but earnings soar by 50%

Gardman has reported a pre-tax loss of £1.5m for the year ending December 2016, mainly down to the exceptional costs of almost £2.3m associated with re-structuring following the previous year’s management buy-out.

The results show a significant improvement in the company’s fortunes compared to 2015, when an operating loss of £6.1m was reported.

However, the directors say EBITDA, which saw a dramatic 50% improvement from £3.2m to £4.8m over the year, is the best indicator of how strongly the company is now performing.

They say that following the management buyout backed by Rutland Partners LLP on 23 June 2015, the group has continued to make good progress in its core markets whilst also developing its strategic direction thanks to its ability to invest in exciting new categories and strengthen operational infrastructure.

Revenue in the year grew by 6.5% to £60.5m (£56.2m in the UK, up 6.2%) and margins improved. The group expects a similar growth rate in 2017 following good sales increases in the first half of 20I7. It continues to invest in strengthening the sales and marketing teams.

Net return on sales last year was a loss of 2.4% compared to a loss of 10.7% in 2015, an improvement expected to continue this year. Sales per employee went up from £286,657 in 2015 to £293,472.

The cost challenges experienced following the Brexit vote and subsequent impact on currency have been managed through more efficient supply chain sourcing and a rebalancing of pricing.

The company has gained significant new distribution and new product listings within its existing customer base.



Gardman has made a significant investment this year in a new more centrally located warehouse facility in Daventry (visited, above, by the sales force as it neared completion in late summer) . This, the company says, will provide further distribuition efficiency and allow the company to meet future growth plans.

Facebook Twitter LinkedIn Del.icio.us Digg | Comment (0)
Comment
Name:*

Email Address:*

Comment:*