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Interflora's UK division 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 Interflora posted a pre-tax loss of £2.3m in the previous financial year. It marks the first time
Interflora has been back in the black since it recorded a pre-tax profit of £471,000 in 2021, as reported by City AM. However, the accounts also reveal a decrease in turnover in 2024, from
£86.7m to £83.2m. In September 2024, Interflora 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 UK 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 UK 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 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 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. LIKE THIS STORY? WHY NOT SIGN UP TO GET THE LATEST BUSINESS NEWS STRAIGHT TO YOUR INBOX.