Restructuring brings profits Flying back

FLYING Brands – the Jersey-based retailer which is 29 per cent owned by Scottish entrepreneur Sir Tom Hunter – has reported a return to profit in 2009 after a major restructure.

The company, which mainly sells flowers and garden supplies online, reported a pre-tax profit of 2.67 million compared with a loss of 11.9m in the previous year, when it wrote off the value of its greetings card business, Greetings Direct, which is being wound down.

Chairman Tim Trotter said 2010 had got off to a "satisfactory" start, although gardening products had been hit by poor weather. Shares in the Aim-listed company fell 2.5p to 70.25p.