- Prachi Singh |
British lingerie brand Ultimo has reported a pre-tax loss of 3.9 million pounds (5.1 million dollars) and sales of just 2.2 million pounds (2.8 million dollars) in the year to December 31, 2016, due to costs, expenses and 2 million pounds (2.6 million dollars) in writedowns of intangible assets, reports This Is Money.
The report added that these numbers compare with a 1.8 million pounds (2.3 million dollars) pre-tax loss on a turnover of 2.1 million pounds (2.7 million dollars) in fiscal year 2015. Quoting the company’s directors notes to the accounts, the report further added that the company anticipates to continue making losses for the year to December 31, 2017.
According to the Ultimo website, the brand synonymous with cleavage-enhancing underwear solutions crafted to boost the confidence of women worldwide was founded by Michelle Mone OBE in 1996 and is now owned by global lingerie firm, MAS Holdings.