Russell & Bromley reports drop in full year sales and profit

For the year to December 31, 2018, men’s, women’s and children’s footwear retailer Russell & Bromley said that the company experienced a difficult year in which turnover decreased by 6.7 million pounds to 100.6 million pounds compared to 107 million pounds last year. The company said in the filing with Companies House UK that operating profit fell 63 percent to 6.6 million pounds and profit after tax decreased to 6.2 million pounds compared to 14 million pounds last year.

The company operating throughout the UK said: “prospects for the UK economy have been a cause for concern and the company’s response has been to minimise costs in all parts of its business.”

The company’s directors paid dividends of 10 pounds per ordinary share, and after the year end a dividend of 3 pounds per ordinary share was declared.

Russell & Bromley added that since the year end, it has closed shops in Bromley, Bournemouth, Salisbury, and its children’s only shop at Westfield, Shepherds Bush and further aims to shut stores based in Oxford Circus and High Street Kensington, London.

Picture:Facebook/Russell & Bromley