Dobbies Garden Centres Group Ltd has just published it's accounts for Financial year 2024 and 2025 which were held back due to the Restructuring Plan the company went through last year.  Turnover in 2024 was £271m falling to £257m in 2025.

As the restructurning plan only completed as FY 2025 came to a close these figures do not indicated the perforance of the group, now slimmed down to 53 centres and without lease arrangments that the company said were making somme sites unprofitable.  For that performance we will have to wait until this years published accounts in Spring 2026.

Read the full Dobbies accounts statement below and link to the published reports here

Here is our summmary of Dobbies Garden Centres Group accounts for the past four years:

Dobbies CFO, Jonathan Vass, explained about the effect of the Restructuring Plan on the filed accounts: "Due to the restructuring plan a number of very material accounting adjustments were required across the two reporting periods which materially impact our reported statutory profit loss numbers. So in FY 24, which was the period preceding the Restructuring Plan, we are reporting a statutory loss of £367 million, predominantly reflecting a non-recurring exceptional impairment charge of around £300 million. This charge was in part driven by the RP and the resulting store closures.  In FY 25, the period we actually undertook the RP we are reporting a statutory profit of 121 million.

"I fully acknowledge that this feels counterintuitive, but it is driven by the accounting. So in FY 25, we recognized the discharge of lease related liabilities related to 24 closed stores. Due to the timing of the RP, under the relevant accounting standards, we are required to recognize the impairment in FY 24 and the discharge of those lease liabilities in FY 25."

Asked if the business is back on track towards profitability following the Restructuring Plan, Dobbies CEO, David Robinson said: "We're trading much better, obviously helped by the weather, and part of that is the strategic initiatives. We're investing back in the estate both in restaurants and garden centres Brighton, Cadnam, Hungerford, Beaconsfield, just completed. And then we signed up the capital for six more. Bury St Edmunds and Royston are the next two off the block. So yes, onwards and upwards."

Dobbies annual accounts to 23 February 2025

Dobbies Garden Centres Group Limited has filed its historic Annual Report and Financial Statements for the Group and its subsidiaries. These accounts are for FY24 (the 51 weeks to 25 February 2024) and FY25 (52 weeks to 23 February 2025) both being filed following the successful completion of a Restructuring Plan.

For FY24, whilst turnover was in line with FY23, Dobbies continued to experience difficult trading conditions as a result of adverse weather conditions during the peak spring/summer 2023 trading season, exacerbated by continued macroeconomic cost headwinds. As a result, underlying EBITDA was a loss of £1.7m in the year (FY23:

£5.2m loss).

During FY25, the Board undertook an extensive review of Dobbies’ financial position, particularly in the context of unsustainable property leasing agreements linked to historical acquisitions. The Board instigated a turnaround plan, including a Restructuring Plan. This allowed Dobbies to exit the leases of 24 over-rented, loss- making stores and secure rent concessions on a further two loss-making sites. As a result, underlying EBITDA was a loss of £6.2m.

Following successful completion of the Restructuring Plan, Dobbies now operates a streamlined estate of 53 stores and is focused on returning to profitability through delivery of its strategy, led by a new Executive team and supported with a new working capital facility (£28m) to enable investment in the business.

Building on a solid foundation for growth, the strategy is focused on expanding the ranges, developing the restaurant offer and investing in stores. Through the delivery of this strategy, improved supplier engagement and better stock availability (together with the benefit of a sustained period of favourable spring/summer weather), overall business performance is improving significantly, including double-digit sales growth (on a like-for-like basis) in the year to date. Over £4m is being invested in store development, with four stores completed and a further six currently underway.