Directors President Margaret Tranter Vice President Julia Romney Alan Middleton JP Stuart Parker B Sc (Eng) Sue Neal John Levine FCA Stephen Hughes BPharm MR Pharm S Carol Bratton MIBC Malcolm Hoskins Barbara Hutchinson Chief Executive Officer Group Secretary Ursula Lidbetter BSc Hons FCIS Jane Powell LLB Hons MBA Sales We have achieved a strong increase in sales, with growth of 14.8% in the half year. Total sales have increased from £117.6 million last year to £134.9 million for the 6 months to 6th March 2010. This includes additional sales arising as a result of our acquisition of Maltby’s wholesale and retail pharmaceutical operation last November. Strong sales in travel and food have also contributed significantly to the improvement. Travel sales have increased 17.3 % over the period and food sales by 8.8%. Sales in our retail pharmacies have also grown by 22.1% with some of the increase due to the addition of 10 new outlets following our acquisition of Maltby’s. In our home stores we have remodelled our outlets at Lincoln and Gainsborough, taking out unprofitable ranges and investing in particular in extended furniture displays. Funeral division and Holland Brothers Jaguar have maintained sales just below last year’s level. Financial Group trading surplus (after depreciation, but before interest, exceptional income, dividend, member benefits and tax) moved forward to £9.585 million, an increase of £361,000 or 3.9% on the same period last year. Strong profit growth in food, Gadsby’s bakery, travel and property more than offset a small reduction in some other areas of the business. The group total of cash and deposits stood at £14,858,000 a reduction of £8,061,000 from last year, due to the purchase during the period of Maltby’s. Net interest fell by £225,000 reflecting the lower cash holdings. The allocation to reserve from revenue of £4,325,000 in the period compared to £4,297,000 a year ago has resulted in the general reserve growing to £168,659,000. Total reserves now stand at £254,076,000, an increase since last year of £18,556,000. previous page next page