Blacks reports losses

Blacks Leisure, the outdoor sporting specialist company has reported a first-half loss. The company stated it plans to keep its Freespirit surf and snowboarding business, following a review.

For the 26 weeks to Sept 1 the group made a loss before tax of £0.6m compared to a pre tax profit of £0.1m in the same period last year, on revenue of £146.8m against £141.3m.

Group sales on a like-for-like basis, which strips out the impact of new and closed space, increased 3.0 per cent reflecting a strong recovery at the Millets chain where like-for-like sales increased 6.4 per cent. Blacks said it has decided to keep its surf, skating and snowboarding retail chain because of the division's 'future potential'. The announcement followed a strategic review conducted by the company's board during the summer.

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