Pet supplies retailer Pets at Home delivered a
10.7 percent sales increase and a 10.3 percent increase in EBITDA
in the year to 31st March 2011. Turnover for the year rose to
£517.8 million, while EBITDA was up to £93 million.
Operating profit for the year was up 8.7 percent to £79
million.
Gardening supplies cataloguer Two Wests and
Elliott secured a £50,000 loan from UK Steel
Enterprise to help grow the business. The funds have allowed
owner-manager Peter Bennett to buy out a minority shareholder in
the business, who had been in place since Bennett acquired the
business in 2007, reports the Sheffield Telegraph.
Office products wholesaler Spicers is to be sold
for £200 million to Spanish paper group Unipapel. Parent
company DS Smith has committed to a period of
exclusivity while it considers Unipapel’s binding offer.
Following completion of the deal, Better Capital, the investment
vehicle that bought Readers’ Digest in
April 2010, will buy the UK and Ireland business of Spicers,
setting aside £40 million to fund the transaction. In the
year to 30th April 2011, Spicers made an operating profit of
£24 million on revenues of £715 million.
Electronic components distributor Premier
Farnell has been forced to revise its growth targets,
after trading in May and June was lower than expected. According
to the Telegraph, the announcement slashed the
company’s value by a fifth.
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