Two of the UK’s largest shopfitting companies have published their annual results, with both posting significant rises amid increasing concern about prospects within the sector.

Sales at Leatherhead retailer Wates Retail soared 47 per cent, from£130 million to£190 million, with 2.8 million sq ft (260,120 sq m) of new retail space fitted out for a client base that included Sainsbury’s, Marks & Spencer and John Lewis. The result puts Wates in second position in the Retail Week Top Shopfitters’ league.

Turnover also increased at Havelock Europa, up from£114.5 million to£125 million – an increase of 9 per cent – with pre-tax profit up 23 per cent from£5.8 million to£7.1 million.

On the subject of trading in the present financial year, Wates group chief executive Paul Drexler said: “Quite honestly, we’re at a period of significant uncertainty. But the management team would be very disappointed if they couldn’t increase [sales] 10 per cent. That’s what they’ve signed up to.”

James Hancock, managing director at Havelock Interiors, Havelock’s retail division, said: “In terms of our division, we are looking at consolidating what we did last year.”

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