Retailer confident as profits rise
Garden centre chain Wyevale's like-for-like sales have fallen 0.6 per cent since the end of its first half. However, they were up by 0.7 per cent in the interim period.

Chairman David Williams maintained that Wyevale, along with other retailers, has been affected by the recent 'wider downturn in consumer spending'.

However, Wyevale posted a 7.2 per cent rise in profits to£16.8 million, excluding certain material items. Good sales of patio, wood and stone products offset a downturn in sales of furniture and barbeques.

A contest for control between Williams and shareholder Laxey Partners ended in victory for Williams and the Wyevale board earlier this month. It hopes that the recent unveiling of the Wyevale Way, a programme aimed at improving retail performance, will encourage potential growth.

Williams said: 'We are confident the spadework is being done and that shareholders will benefit from the seeds that we have planted.'

Meanwhile, Wyevale is being circled by venture capitalists interested in buying the business.

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