Managing a retail business through the past two years was hard enough for a company operating in just one jurisdiction, but imagine managing your store portfolio under the various covid measures imposed in England, Scotland and Wales.
That was (and continues to be) the challenge facing Laings, which has six showrooms in Glasgow, Edinburgh, Cardiff and Southampton.
Despite the difficulties, Laings UK Holdings reported sales of £37 million for the financial year ending May 31, 2021, still below its record turnover of £42.4 million in 2018/19, but up 6% on 2019/20, which was affected by the first UK-wide lock down in March, April and May of 2020.
Operating profit for the most recent financial year was also a healthy £3.2 million, double the prior year.
On top of normal trading, Laings operating income over the two years of the pandemic was boosted by £1.5 million, “primarily representing covid-related government grant funding and furlough payments,” the company reports.
Sales through Laings ecommerce store and social media doubled from the 2019/20 year to 2020/21.
