Squire’s financial results encouraging despite a challenging year

by | Apr 7, 2021 | Chains, News | 0 comments

Squire's Garden Centres

Squire’s Garden Centres has reported a drop in turnover for the year ending 31 July, which the group says is a “good result” considering the impact of COVID-19. The accounting period spans pre-pandemic, the first lockdown and the weeks of high demand following the centre’s reopening in May 2020.

Perhaps unsurprisingly, given the period of closure during the peak spring trading window, total turnover dropped by 7% to £53m. Trade had been strong during the financial year up until closure. Post-lockdown sales particularly in plants and core gardening were very strong, with a higher average spend. Squire’s believes it secured new customers, as more people were at home and wanted to enjoy gardening and spending time in their gardens.

Turnover was boosted by the addition of Squire’s newly-acquired centre at Wokingham (Heathlands), which joined the Group on 1 August 2019. The performance of this site is reported to have exceeded expectations. Its centre at Frensham benefitted from the newly refurbished food hall which opened shortly before lockdown and, as a stand-alone food shop, was able to continue to trade while the rest of the centre was closed. During the year, Squire’s also completed a major extension of the shop and Café Bar at Milford, and garden centre sales have continued to be very healthy in its new financial year.

Whilst cafés could reopen from early July, there were plenty of challenges to overcome, and café sales plummeted by 33%. Squire’s says the Coronavirus Job Retention Scheme proved “crucial” for it, enabling it to retain staff during the closure period.

Squire’s underlying profit before tax dropped by 42% to £2.2m (LY: £3.7m)., which the group says is a “good result given the events of 2020, and one which reflects a huge amount of hard work on the part of our teams”.

Sarah Squire, chairman of Squire’s, said; “I cannot stress enough how significant the support, commitment and hard work of our colleagues has been as we navigated the period of closure and beyond. So many people have come up with innovative ideas, solved problems and taken on tasks outside their usual remit with willingness, determination and great good humour. Our suppliers have also been incredibly helpful while facing not inconsiderable challenges of their own.”

more latest news ➡

New logo for the Bransford Webbs Plant Company

A fresh, new look for The Bransford Webbs Plant Company

The Bransford Webbs Plant Company is proud to unveil a new company logo, launching at The 2024 National Plant Show at Stoneleigh Park. An evolution of the original Bransford Webbs logo introduced almost twenty years ago; the heritage shades of purple and green have...

GCA CEO Peter Burks hosting a free sustainability webinar this month with the focus on water and ‘navigating the green minefield’

Free sustainability webinar for GCA members

Garden Centre Association (GCA) members will hear from a trio of sustainability experts during a free webinar this month (June 2024). The GCA is hosting the online event on June 26 from 3-4.30pm and it will cover water conservation and how to navigate environmental...


Nearly 40% of UK retailers fail to meet delivery times

A new study, carried out by post-purchase customer experience provider parcelLab and e-commerce customer care - and fulfilment specialist Salesupply, highlights significant gaps in delivery reliability, tracking transparency and customer service...

Blue Diamond posts 2023 figures

Blue Diamond posts 2023 accounts

The new largest garden centre group Blue Diamond has posted its 2023 accounts which shows a £24.2m profit – a 16% increase on 2022. Sales for 2023 were £310.6m versus £259.3m last year, a 20% increase on 2022, and a 9% like for like uptake. This marks an important...

Read GCR's latest edition!

Subscribe ToThe Wednesday Word

Subscribe To
The Wednesday Word


Get all the latest news, events & more straight to your inbox every Wednesday.

You have Successfully Subscribed!

Pin It on Pinterest

Share This