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Thursday January 25th 2007
Monsoon profits slip
Archived article dated Thursday January 25th 2007
Monsoon has announced falling profits and like-for-like sales for the six months to November 25.
Turnover increased 17 per cent to £265.9m, with like-for-like sales down 6 per cent. Profit before tax for the first half of the year decreased 5 per cent from £25.5m to £24.2m.
In the UK and Eire turnover increased by 14 per cent from £202.1m to £231.4m and like-for-like sales decreased by 7 per cent. Operating profits after exceptional items decreased 11 per cent from £19.6m to £17.5m.During the period, 11 stores were opened and 6 closed.
Peter Simon, Chairman, said: 'It has been a difficult 6 months with like for like sales declining both in the UK and overseas. Sales growth has been driven by new stores but this has impacted costs.
Tagged as: monsoon
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