Gardners' profits up 15%

Gardners' profits up 15%

Wholesaler Gardners Books saw an increase in profit and turnover in the 12 months to end February 2013, as the company invested further in infrastructure, equipment and technology.

The Eastbourne-based business recorded a turnover of £190.4m in the timeframe, up 11.1% on the previous 12-month figure. Gardners’ operating profit increased by 14.6% to £5.9m, up from £5.1m. In a filing on Companies House, the wholesaler recorded net assets of £48.1m and an EBITDA of £8.4m, up from £8m. It also gave £2,828 in charitable donations during the course of the year.

The report said: “The directors are satisfied with a steady performance in a competitive and challenging market and report an increase in sales and profit. The company has invested further in its infrastructure, equipment and technology during the year including digital e-book technologies. This continued investment builds on previous years of significant investments to further strengthen the company’s capabilities.”