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THE GARDEN MARKET SUPPLEMENT 2018 SCOTSDALE: NET MARGIN GAINS


The Numbers Sales £m


Gross profi t £m


12/13 13/14 14/15 15/16 16/17 %change 14.9 18.3 20.3 20.7 22.2 6.6


8.1 9.3 9.7 10.2


Operating profi t £k 650 921 1,222 1,772 1,842 Pre-tax profi t £k Staff


Salaries £m


The Ratios Stockturn


Gross margin % 4.1 4.6 4.7


7.2 5.6 4.0


613 911 1,339 1,700 1,985 16.8 196 209 235 243 254 3.8


5.1 3.7 4.0 4.1


6.0 6.6


4.8


8.5 8.2


5.3 11.2


8.3 -3.1 8.9


8.9 8.2


4.5 7.1


12/13 13/14 14/15 15/16 16/17 %change 4.4


Operating margin % 4.4 Net margin %


6.1


44.2 44.4 45.5 46.7 46.0 -1.5 5.0 5.0


Staff costs/turnover % 25.2 22.2 22.8 22.8 22.8 -0.1 Return on capital % DIY Week index


8.6 11.9 14.6 15.8 51.8 419.3 265.8 80.0 318.6 DIYWK-25AUG17-Creoseal_Layout 1 24/08/2017 11:02 Page 1


Scotsdale has shown very healthy growth in sales, boosted by the acquisition of Horningsea GC in 2013. It’s now one of our top ten operators ranked by sales, with the third highest average sales growth of all 26 companies over the past fi ve years. The growth in profi ts has been even healthier, with margins steadily increasing, and the net margin now more than double what it was fi ve years ago. The return on capital has risen steadily every year over the past fi ve years. The stockturn and gross margin fi gures are slightly lower than average – but only slightly – and the staff costs are one of the best in the business. And the fi ve-year average DIY Index score puts Scotsdale in the top ten.


Benchmark


SQUIRES: INVESTING IN REFURBS The Numbers


Sales £m Gross profi t £m


12/13 13/14 14/15 15/16 16/17 %change 37.8 41.8 44.3 44.8 47.5 19.0 20.7 21.9 23.0 24.4


Operating profi t £k 3,223 3,855 4,000 3,995 4,110 Pre-tax profi t £k Staff


Salaries £m


The Ratios Stockturn


Gross margin %


6.2 6.0 2.9


2,713 3,344 3,224 3,039 4,175 37.4 673 683 719 734 771 9.7 10.1 10.6 11.1 12.0


4.8 4.8 7.2


9.0 7.3


4.4


8.9 6.8


4.9 11.8 8.6 -3.1


5.0 7.8


12/13 13/14 14/15 15/16 16/17 %change 5.2


Operating margin % 8.5 Net margin %


50.4 49.4 49.5 51.4 51.4 -0.2 9.2 8.0


Staff costs/turnover % 25.8 24.1 24.0 24.9 25.2 143.4 472.1 259.0 41.9 260.9


8.8 29.4 1.5


Return on capital % 11.0 12.5 11.7 10.5 13.2 25.6 DIY Week index


Squires has historically been an acquisitive company, but its last acquisition was the former Secretts centre at Milford in 2013. Since then it has concentrated on refurbs, with the Chertsey and Hersham centres rebuilt and re-opened in 2017, and Woking in 2018. And it works: sales in 2016/17 were nearly £10m up on fi ve years earlier, and Squires is now the UK’s sixth-placed garden centre operator ranked both by sales and by average sales growth. It delivers very consistent double-digit return on capital, with stockturn bang on the market average, gross margin well above average, and staff costs well below average. And its average DIY Index score over the past fi ve years places it at number seven in the table.


CREOSEALPLUS helps to protect the wood against the detrimental effects of the weather and has a colour which lasts and lasts.


CREOSEAL'S FENCE CARE covers most fencing in one coat and is available in four colours, with a high resistance to fading.


www.diyweek.net


DIY WEEK GARDEN MARKET SUPPLEMENT 21


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