Blue Diamond chairman in retail sector warning
A WARNING about future prospects for the retail sector has been given by the chairman of one of the island’s biggest retail groups.
Simon Burke, chairman of the garden centre group Blue Diamond, has a long history in retail with a number of big names.
As he celebrated record half-year profits for the group, he sounded a note of caution about prospects for the sector, though he appeared bullish about the future for the rapidly-growing group, which is fitting out its 20th garden centre at present.
‘There are indications that retail generally is weakening in the face of political and economic uncertainty, and so a note of caution regarding the likely rate of growth in the next couple of years is appropriate,’ Mr Burke said in his interim management statement issued as part of the group’s half-year results.
The group’s performance for the first six months of 2017 appeared to buck any downward pressures, with turnover and profits both up strongly.
Mr Burke said that the programme of investment in the business would continue to give Blue Diamond ‘growth momentum’ into 2018.
‘We remain confident about the group’s long-term prospects and have a sound, flexible strategy in place,’ he said.
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