Gardners' annual revenue up 8.5%

Book wholesaler Gardners saw revenue grow 8.5% in the year to the end of February 2016, with profit also up.

The Eastbourne-based business has filed its annual results on Companies House, revealing that overall revenue was up by 8.5% to £206.2m in the year to the end of February 2016, with profit up 56% to £5.7m.

The financial results are an improvement on its last, when turnover was down 9% to £190.0m in the year to the end of February 2015 and profit also down 11% to £3.6m.

The average number of employees at the company has also grown in 2015-16 by 34, now standing at 709.

A note in Gardners’ accounts said the company was looking to grow further in the next few years.

“The directors are very pleased with the company’s growth in turnover during the year in a competitive and challenging market and are looking to maintain and grow this further in the coming years both externally through expansion and internally through its fellow subsidiaries,” the accounts said. “The gross margin has increased die to an internal focus on profit margins.”

The file added: “The UK market is expected to continue to be challenging in the forthcoming year and the directors are ensuring that all business costs are closely monitored to maximise the effectiveness of those costs.”

The company has net assets of £51.5m meaning it is still “strongly placed” to make business decisions, the directors said.