24/04/2001
Resurgent Laura Ashley has outstripped market expectations, turning in a full-year profit for the first time in four years. Ian MacDougall, of house broker Williams de Broe, had forecast that last year's loss of £4.1m would be turned into an £8m profit, but an exceptional gain of £1.8m (arising from the release of a provision against the company's now profitable manufacturing business) pushed the pre-tax figure up to £10.2m. Sales were also on the up, reaching £259.1m (£247.3m) - a trend seemingly continuing this year with like-for-like sales already 14% ahead. Much of the success has been attributed to this being the first full year since the company disposed of its North American operations, while the home furnishings division was highlighted for particular praise. The period also witnessed the closure of 31 'under-performing' concessions in Homebase stores together with one main store. Six new retail outlets are described as 'all performing well'. The coming year will witness the refurbishment of 22 stores at a cost of £1.6m.
| Market cap: | £150.7m |
| PE Forecast: | 20.2 |
| Share price: | 22.25p |
| LSE | £70.96m |
9.75p
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-0.13p
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| Other company articles: |
| 24/05/2005 |
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