Home shopping group Flying Brands’ strategy to focus on its core gardening and gift divisions is bearing fruit, the retailer said as it posted improved full-year results.
The retailer is also to bolster its online operations and aims to make the majority of its sales over the web by 2013. At present, mail order catalogues and off-the-page advertising are its principal channels.
Chairman Tim Trotter said the retailer, which operates mail order and online operations such as Gardening Direct and Flying Flowers, has made “good progress towards its aim of sustainable profitable growth” after a year of restructuring, cost reduction and focus on profitable sales.
Led by chief executive Stephen Cook, appointed in February 2009, the retailer reported an overall group profit before tax of £2.7m in the year to January 1, compared with a loss of £11.9m the previous year.
Ongoing business profit before tax, excluding one-off reorganisation and redundancy costs, was £1.9m compared with £1.5m last year, on sales down 9.7% to £30.4m.
Flying Brands reported that the new year’s trading has got off to a “satisfactory” start.