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Interim Results

Laura Ashley online revenues rise

23 March 2016 07:32

Laura Ashley posts profit before tax and exceptional items of GBP20.7m for the 52 weeks to 30 January (2015: GBP22.9m - 53 week period).

Its second interim results show profit after tax and exceptional items of GBP19.4m (2015: GBP23.5m - 53 week period).

Like-for-like retail sales were up 4.8% but total group sales fell 4.6% to £289.5m (2015: £303.6m - 53 week period).

Online revenue up 5.3% (like-for-like up 14.5%) and hotel revenue increased by 29%.

Chairman Tan Sri Dr Khoo Kay Peng said: "I am pleased with the performance and the underlying strength of our core UK business, where healthy like-for-like sales growth, across all product categories, has been achieved for another year. We are proud of the performance of our Home Accessories category, where our focus on innovation, quality and design has contributed to an 8.7% rise in like-for-like sales. "Our online channel has continued to advance with like-for-like growth of 14.5%, a reflection of our enhanced digital platform and improved home delivery service.

"We are encouraged by the strong growth achieved by our hotel, which is now starting to realise its true potential both to the Brand and the company.

"We will continue to work with our overseas partners following a challenging year for our international business. The acquisition of our Asian Headquarters in Singapore signals our commitment to the overseas business channel. Our plans for continued international growth remain central to our strategy as a worldwide Brand. "We remain optimistic for the future and are confident that the strength of the Brand and the enduring appeal of our product ranges mean we are well positioned for continued growth."

Story provided by StockMarketWire.com

Related Company: ALY

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