Sales for 2009 are down but profit is up at multitle mailer
Flying Brands. The company, whose catalogues
include Gardening Direct and Flying
Flowers, saw revenue decrease 9.7 percent to £30.6
million. Pretax profit, excluding one-off redundancy and
reorganisation costs, however, was up 32 percent to £1.94
million, compared with £1.47 million in 2008.
Trading in 2010 has started off well, the company said in a
statement; online sales were “significantly up on last
year” at Flying Flowers. But in the Gardening Division, due
to adverse weather in January, sales so far are “been
behind management expectations”.
In the first three months of the year Flying Brands launched a
new “value” brand called Jersey Bedding
Plants, and says it is pleased with its performance so
far.
Total sales at Argos declined by 6.6 percent to
£537 million in the eight-week period to 27th February 2010.
Like-for-like sales declined 9.4 percent, partly due to the
negative impact of the later launch of the spring/summer
catalogue. At sister company Homebase sales were
flat compared to the same period last year at £205 million.
Despite the declines, Home Retail Group chief executive Terry
Duddy says profit before tax for the year will be approximately
£290 million, slightly ahead of market expectations.
The Times has a feature on Jamie Oliver’s
catalogue and party-plan business Jamie at
Home.
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