Interflora owner returns to profit despite sales slip
The owner of the UK arm of Interflora has returned to the black despite its sales falling during its latest financial year, it has been revealed.
The Lincolnshire-headquartered business has posted a pre-tax profit of £1.9m for 2024, according to new accounts filed with Companies House.
The profit comes after the firm behind Interflora’s UK division reported a pre-tax loss of £2.3m during its prior financial year.
It is the first time it has returned to the black since it achieved a pre-tax profit of £471,000 in 2021.
However, the accounts also show its turnover declined in 2024 from £86.7m to £83.2m.
In September 2024, the owner of Interflora sold its investment in The I.S. Group which generated a profit of £810,786.
The I.S. Group used to provide the sundry supplies to the florists businesses but the UK arm of Interflora set up its own wholesale arm in 2018 while its investment in the group was retained.
The company issued a dividend of almost £4m in the year, down from £7.5m.
Interflora delivering on new strategy
Interflora UK was bought by the world’s largest flower delivery network, US-headquartered Teleflora, in 2019, in a £47m deal designed to expand the American firm’s international reach.
A statement signed off by the board said: “The group is looking to achieve medium and long-term growth in revenue and profit by delivering on our vision and mission.
“The group’s vision is to be the UK 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.”
Interflora’s 2024 financial results come just over a year after the firm revealed its “boldest pivot” in its 100-year history in a bid to attract new younger customers.
In February 2024, it announced its new strategy to target the female under-45 audience after market research laid bare its “old fashioned” public image.