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Annual Results

Laura Ashley like-for-like retail sales up

17 August 2016 07:14

Laura Ashley Holdings' like-for-like retail sales rose by 4.1% in the 74 weeks to 30 June with like-for-like growth across all categories.

Profit before tax and exceptional items was £25.8m (2015: £22.9m - 53 week period). Profit before tax and after exceptional items of £23.9m (2015: £23.5m - 53 week period).

Other highlights:

- Total Group sales of £400.9m (2015: £303.6m - 53 week period).

- Online revenue of £73.5m. (2015: £48.5m - 53 week period). Like-for-like up 15.7%.

- Hotel revenue of £3.5m (2015: £1.9m - 53 week period).

- £5.0m net cash balance.

- Final dividend of 0.5 pence per share taking total dividends for the period to 2.5p. All references to "like-for-like" refer to a full 74 weeks comparison. Chairman Tan Sri Dr Khoo Kay Peng said: "I am pleased with the overall performance of the business. Continued like-for-like growth in the UK market, boosted by the good performance of our digital channel, is encouraging. I am happy that the Company has signed a new licence partner for Australia and am confident that the business opportunity there will be optimised. Such partnership opportunities, in new territories, will continue to be explored and developed. I am grateful for the enduring loyalty of our many worldwide customers, whose love of the Brand and its rich heritage, has helped to grow and strengthen the business. The Company will continue to focus on enhancing the design and quality of its product ranges upon whose provenance the Brand has been built. In a time of uncertainty for retail and the global economy at large, I am optimistic and confident that Laura Ashley will remain a business with solid foundations to withstand challenges as they arise."

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