Dobbies eyes stock market float amid sales & profit growth

Dobbies eyes stock market float amid sales & profit growth
Some of Dobbies' new store acquisitions in the past year were former Wyevale garden centres.
// Dobbies might return to the stock market, according to chairman Andrew Bracey
// The gardening retailer posted a 12% uptick in full-year sales, along with 35% surge in underlying operating profit & 5% like-for-like growth
// Dobbies has also grown its estate – acquiring 6 in the reported full year and 31 since

Dobbies is reportedly considering for a return to the stock market after posting an uplift in full-year profits and sales.

Speaking to The Times, Dobbies chair Andrew Bracey said the stock market was the “natural place” for the business and it would make a float “in a year or so”.

His comments come as the gardening retailer recorded a 12 per cent uptick in sales to £166 million for its full-year period ending February 24.

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Meanwhile full-year underlying operating profit surged 35 per cent and full-year like-for-like sales increased five per cent.

Dobbies also increased the size of its business during the year with six new stores, and since then it has acquired an additional 31 garden centres for the current trading year.

Some of these new locations were former Wyevale garden centres, which is now no longer after its owners completed the sale process of its estate to various gardening retailers.

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