‘Phenomenal’ rise in Blue Diamond sales
BLUE DIAMOND achieved ‘extraordinary success’ in 2019 by capitalising on nine Wyevale garden centres purchased in 2018, according to managing director Alan Roper.
Since being acquired, those centres increased sales by £14.7m. to £51.2m. Like-for-like garden centre sales – excluding acquisitions and a newly-built centre – were up by 8.5% compared to the industry average of 4.5% thanks to an increase in average spend and footfall.
A further seven Wyevale sites acquired last September generated £5.1m. sales in the last quarter, with the potential to reach £30m. of sales over the next five years – having historically generated £18.5m. of turnover.
‘Overall sales rose £53.8m. (42%) to £181.6m. Within this figure restaurant sales grew from £22.6m. to £34.4m. in 2019. Restaurant sales grew 7% on a like-for-like basis. Due to acquisitions restaurant sales have more than doubled over the past two years from £16m. in 2017 to £34.4m. in 2019,’ said Mr Roper.
Meanwhile, the ‘phenomenal’ rise in Blue Diamond sales had been realised without any detrimental impact to underlying key performance indicators with overheads controlled and sales margins improved.
Highlighting the opportunity for the group to reach £326m. turnover over the years to come, Mr Roper paid tribute to his team to ‘whom we owe our success’.