Dobbies mulls float as sales and profits blossom

The garden centre chain registered a 12% increase in sales to £166m for the 12 months to February 24 and is now considering a return to the stock market.

Dobbies chair Andrew Bracey told The Times the stock market is the “natural place” for the business and it will look to float “in a year or so”.

The specialist retailer’s underlying operating profit jumped 35% and like-for-like sales grew 5% during the period.

During its financial year, Dobbies doubled the size of its business after acquiring six new locations. After the reporting period, it acquired an additional 31 garden centres.

Bracey said: “We are delighted with the continued strong performance with overall sales up 12% and like-for-like sales up 5%. We are also very encouraged by the progress made in our newly-acquired garden centres.

“The integration of the new centres is moving at pace and we look forward to providing market-leading garden centres for our customers across the length and breadth of the country.”

Chief executive Graeme Jenkins said: “Dobbies has delivered a strong performance this year, as we continue to differentiate our retail and hospitality offerings with customers at the centre of everything we do.

“Our trading performance is a testament to the hard work of the team and we are well-positioned to enjoy a successful Christmas season. We are continuing to invest across the estate to ensure our customers enjoy the best shopping experience we can offer at every Dobbies garden centre.”

A Dobbies spokesperson said a potential float “is an option for the business in the future.”