Marchpole earnings remain flat

Fashion brand management company Marchpole Holdings has announced 2006 profits before tax of £4.9 million, remaining flat on last year. Operating profit rose to £5.5 million, up from £5.1 million in 2005, while turnover increased to 38.4 million from £31.5 million. "The last year has been one of significant progress for the company and we continue to build for the future," said executive deputy chairman, Michael Morris. "A major achievement during the year was the acquisition of Moda America LLC, the US licensee for Emanuel Ungaro, which expands our global reach and importantly offsets the termination of the Yves Saint Laurent licence." Morris, who was recently appointed to his current position, said that Marchpole had "evolved from being a single brand, single country business to a diversified multi-brand international business with strong growth potential". The company operates through wholly owned subsidiaries in the UK , France , Italy , Asia and the US . Morris also said the company is currently in talks to exclusively distribute both the Jean Charles Castelbaljac and Ungaro ranges to nine Middle Eastern and Gulf states .