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Losses widen at Blacks Leisure
Archived article dated Friday May 29th 2009
Increasing losses at the boardwear business continue to push the group further into the red.
The loss before tax was £14.4m in the year ended 28 February 2009 from £9.3m a year ago from revenue down to £267.6m from £294.4m. The loss before exceptional items was £6.8m versus a £300,000 profit before.
In current trading the company said that the Outdoor division had made an encouraging start to the new financial year reporting like for like sales up by 1.2% in the twelve weeks to 23 May 2009, although trading in the reduced Boardwear estate continues to be soft.David Bernstein, Chairman, said: 'The Group has experienced a difficult year in a particularly challenging trading environment. Our core Outdoor division maintained a sound performance, however, our Boardwear division continued to underperform. Against this background we are continuing the programme of radical change and this is now beginning to produce the expected benefits.'
Tagged as: blacks leisure | boardwear | city | profit | loss
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