May Optician Article - Vision Express Results
Quality market leaders Vision Express reported that underlying profits were up from £15.6m to £18.4m in the year to December 2008.
The opticians did, however, reveal a slight dip in pre-tax profit – at £15m, down from £15.6m the previous year – as it factored in the costs of acquiring the 70-store regional chain GC Bateman, which were about £3.4m.
Vision Express chief executive Bryan Magrath said: “We had a very good year considering the current economic climate.”
He said that trade this year has been “up and down” as the industry has suffered from “February snow, a plague from [BBC business editor] Robert Peston and one of the worst Budgets ever”.
Despite difficult conditions the retailer is still hoping to open a minimum of 11 stores to add to its 329-shop portfolio and will consider additional acquisitions “if they are the right deals”.
It would appear that opportunities are still out there in the quality Optics market sector where the key players are observing the trends and still going for growth.
Contact Ken Rand Partners to explore effective growth strategies and we will be delighted to discuss arranging a Vision Workshop.
