J&J Wilson benefits from Brit holidays
J&J Wilson has posted an 8% hike in full-year sales as the Costcutter retailer continues to benefit from Brits holidaying at home.
Turnover at the retailer, which runs c-stores in holiday parks across the UK, rose from £15.7m to £17m in the year to 31 January, while pre-tax profits soared 38% to £211,000.
J&J Wilson managing director Derrick Lloyd said adding 13 shops to its estate of more than 60 stores as well as staycations had helped boost sales. The trend had continued into this year, he added.
"Earlier in the year around Easter and when the weather was good we were miles ahead, but in the past few weeks it's got a lot tighter," Lloyd said. "People are still deciding whether or not to go on holiday and whether they can get a good deal. Just look at the performance of Thomas Cook." This week, Thomas Cook said its third-quarter profits would be £5m lower than expected.
Promotions from Costcutter had also helped, Lloyd added, especially on convenience lines popular among holidaymakers.
The accounts also revealed that the retailer acquired land in Old Hunstanton, Norfolk, in March this year. Lloyd said the company was currently based at one of the two hotels it owned and planned to use the land to build new offices.
