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11 Dec 2018 | 14:11

John Lewis of Hungerford expecting first-half loss in 'challenging climate'

Kitchen and furniture manufacturer John Lewis of Hungerford said it expected to post a first-half loss amid a challenging economic climate.

Despatched sales and forward orders currently stood at £4.7m, down from £5.6m on-year.

However, orders against which a first-stage deposit had been taken stood at £2.0m, up from £1.3m on-year.

'We remain cautious in this challenging economic climate and are working hard to ensure the business shows growth for the full year,' chairman Gary O'Brien said in speech notes for the company's AGM.

'We are anticipating a loss in the first half year, in line with our expectations, due to the seasonality of the business.'

'However, based on the current order book and assuming economic conditions do not deteriorate, we expect to report a modest operating profit in the full year ending 30 June 2019.'

At 2:11pm: (LON:JLH) John Lewis of Hungerford PLC share price was -0.03p at 0.73p

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