Flying Brands issues profits warning

Channel Islands mail order gardening group Flying Brands has warned that its profit for the year would be well below market expectations as its traditional flowers business continues to be hit by increasing competition and weak consumer spending.

Flying Brands, which produces bedding plants, has seen profits drop - image: HW
Flying Brands, which produces bedding plants, has seen profits drop - image: HW
The Jersey-based company, which provides mail order flowers, bedding plants and gardening products, said it also saw sales from its bird-food division decline, hit by stiff competition from supermarkets and garden centres.

"The performance of our flowers and gifts division over the important first quarter was materially below our expectations in what is currently our main direct-to-consumer business," chief executive Stephen Cook said in a statement.

The company also said it would have to renegotiate its banking terms and planned to start talks with its lenders soon.

Overall group orders for the period to April 1 was nearly flat at £10.8m, while on a like-for-like basis, orders were 19.8 percent below last year.


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