Theo Fennell posts Â£2m loss
Board confident of turnaround.The company reported a pre-exceptional loss of £2m for the year ended 31 March 2009 against a profit of £1.9m the year before. Turnover for the year dropped to £21.8m from £28.06m.
Rupert Hambro, Chairman commented: 'In 2008 Theo Fennell PLC was impacted by both the economic climate and a number of unwise management decisions, resulting in a significant loss for the year. The new, recently appointed board and management team have decided to make all the necessary write downs for this financial year which will leave the Company unencumbered as it progresses its turnaround strategy to restore the Company to its previous levels of success.'
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