Garden Centre Group 2011 turnover up 10 per cent but sale costs hit profits

Terra Firma-owned Garden Centre Group grew revenues from £241m to £264m for 2011 in results announced on 3 October.

Pre-tax profit was £586,000 for the full year up until 25 December 2011, down from £860,000 in 2010.

Exceptional costs of £1.8m related to the sale of the former Wyevale by its previous owner Lloyds Banking Group to Terra Firma in April for £276m hit the 129-centre group.

The company also incurred a £2m loss related to the closure of Pyle Garden Centre and Beverley Garden Centre in 2011 before Terra Firma took control of the firm.

"The company prepared for an early season and benefited significantly during the early months of the year," the firm said in a filing at Companies House.

"The summer months saw cool weather and high rainfall before returning to strong Autumn and Christmas trading."

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