Laura Ashley posts increase in sales and profit
Fashion and homewares retailer Laura Ashley has reported that like-for-like retail sales rose by 4.1% in the 74 weeks to 30 June with growth across all categories. Like-for-like online sales climbed by 15.7%.
Pre-tax profit before exceptional items was £25.8 million compared to £22.9 million in the 53 week period in the previous year.
Tan Sri Khoo Kay Peng Laura Ashley chairman, 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.”
In the UK, Laura Ashley achieved total sales of £363.2 million compared to £267.4 million in the previous 53 week period. Total group sales were £400.9 million.
The company said trading for the six weeks to 13 August was in line with management expectations.
Tan Sri Khoo Kay Peng added: “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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