Home retailer pledges to build on this year's store openings and acquisition
Home improvement retail group Strategic Retail made a profit before tax of£67,229 in the 26 weeks to August 28.

Turnover for the period was£7 million. There are no figures for the equivalent period last year, because the company only listed on the AIM market in December last year.

Turnover from April 11 last year to February 28 was£3.4 million. The retailer made a loss in the period of£90,000. In the first half of this year, the group, which rescued home decorating chain Fads from insolvency last year, opened four Fads outlets in Greater London and one at Sheerness in Kent. Two more openings are slated for later this year.

The retailer acquired Leveys on October 4, an 18-store DIY chain in the Northeast, for£450,000. Strategic Retail chairman Ian Currie said: 'The addition of the Leveys chain, which has added 54,000 sq ft [5,015 sq m] of retail space in an area where Fads has no outlets, will lead to an increase in margins for both chains. The company continues to actively pursue growth through opening stores and the acquisition of appropriate retail businesses.'