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HTA comments on the general election result
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Dobbies made £14m loss after buying six centres for £70m
Annual accounts reveal it paid £33.2m for Woodcote Green

Dobbies paid £70m for the six Wyevale garden centres it bought in the year to 24 February 2019, the annual accounts, filed last week, reveal.

 

Gloucester, Heighley Gate, Huntington, Woodbridge and Woodlands were acquired for £37.4m and Woodcote Green for £33.2m

 

The group reported a loss before tax of £14m on sales of £166m, although operating profits moved up from £5.5m to £7.4m. A full year’s trading with the six newcomers would have pushed turnover to £197m.

 

The group says it aims to grow organically as well as through acquisition and its strategic plan is to “lead the future of garden centre retailing”. It believes it differentiates itself through range authority, best in class hospitality experience and strong concession relationships.

 

During the year Dobbies disposed of two centres, Westerwood and Kinross, that were not of core interest and later acquired 31 more from Wyevale, leaving it with 69 centres.

 

Borrowings totalled £299.5m at year end, including £44m from its parent division within the Dobbies Garden Centre Group.

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