Gibbs & Dandy achieve 13.6% profit increase

Gibbs & Dandy pushed pre-tax profits up 13.6% in the half year to the end of June, and say they are encouraged by their performance after two challenging years.
A statement said: “We believe that despite the consolidation in our industry there is a place in the market for a growing independent merchant which is able to offer its customers excellent service.”

Like-for-like sales were up 6.2% to £31.05m and operating profit up 11.2% to £2.40m. Pre-tax profit rose to £2.44m.

The company strengthened their position in the south Midlands with the acquisition of Carson Fletcher Timber and say they are still looking for more branches. They believe sales will continue to grow in the second half.