The owner of the º£½ÇÊÓƵ arm of Interflora has returned to profitability, despite a drop in sales during its most recent financial year. The Lincolnshire-based company reported a pre-tax profit of £1.9m for 2024, according to newly filed accounts with Companies House.
This comes after Teleflora º£½ÇÊÓƵ Holdings posted a pre-tax loss of £2.3m in the previous financial year. It marks the first time it has been back in the black since it recorded a pre-tax profit of £471,000 in 2021, as reported by .
However, the accounts also reveal a decrease in turnover in 2024, from £86.7m to £83.2m. In September 2024, the Interflora owner sold its stake in The I.S. Group, generating a profit of £810,786.
The I.S. Group previously supplied sundry items to florist businesses, but Interflora's º£½ÇÊÓƵ arm established its own wholesale division in 2018 while retaining its investment in the group. The company paid out a dividend of nearly £4m in the year, down from £7.5m.
Interflora º£½ÇÊÓƵ was acquired by Teleflora, the world's largest flower delivery network based in the US, in a £47m deal in 2019 aimed at expanding the American firm's global reach. A statement approved by the board read: "The group is looking to achieve medium and long-term growth in revenue and profit by delivering on our vision and mission."
It added: "The group's vision is to be the º£½ÇÊÓƵ and Ireland's most loved flower people."
"Our mission is to be the champion of our local artisan florists and create beautiful moments for special people so they have a relationship with us that they truly love and want to share."
The company's financial results for 2024 have been released just over twelve months following the company's announcement of its "boldest pivot" in a century, aimed at rejuvenating its brand and appealing to a younger demographic.
In February 2024, Interflora unveiled a fresh strategy focused on capturing the attention of the under-45 female market segment, following insights from market research that highlighted the brand's somewhat "old fashioned" image.
