PROFITS at Flying Brands this year are ahead of the company’s expectations.
The St Lawrence-based home shopping retailer, which includes Flying Flowers, announced on Wednesday that profits for the first six months of this year were better than expected because of strong performances at its Essex-based plug plant operation Gardening Direct in April and May and at Flying Flowers, which is based at Retreat Farm.
Chairman Alan Fryer said: ‘We are very pleased with the performance of Gardening Direct.
Since spring last year we have delivered two improved seasons which, together with several other exciting initiatives, demonstrates that our strategy is being successfully implemented.
‘Over the past 18 months, the management has improved the efficiency of the business, made marketing more effective, grown significantly sales through the internet, and achieved savings in packing and growing.
These actions have improved operating margins.
But he warned: ‘Like for like comparisons for the second half may not show the same level of profit growth following the very strong performance of the business in the same period last year.
Article posted on 2nd July, 2004 - 12.00am
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