A retailer specialising in outdoor and indoor furniture has reported a drop in sales but a return to positive EBITDA in its latest financial results.
For the year ending 31 May 2024, Whitehall Garden Centres recorded a 14% decline in total sales to £16.1m, down from £18.8m the previous year. However, EBITDA improved to £360,000 from a negative £1.1m, while pre-tax losses narrowed to £519,000 from £1.6m.
The company, which operates three garden centres in Wiltshire and Bristol, attributed the revenue decline primarily to reduced demand for outdoor furniture, following peak sales during the Covid-19 pandemic. Stock levels also fell by £2.1m to £2.7m, reflecting this lower demand.
Despite the decline in sales, the company achieved a financial improvement by driving growth in other areas of the business, particularly its restaurant operations, which continue to experience higher footfall.
Source: www.bigfurnituregroup.com