Stead & Simpson reviews options

The British footwear company Stead & Simpson has announced plans to perform a strategic review of its option, including a potential flotation on the stock market. The company, which is the UK's third largest specialist shoe retailer, has appointed financial advisors from Clarwater Corporate Finance Plc to help explore various options in order to secure funding the growth of the business.

The announcement was made when the company reported an almost doubled pre-tax profit to GBP 8.9 million for 2004, up from GBP 4.6 million the previous year. Sales for the year increased 7.8 per cent to GBP 140.3 million.Stead & Simpson operates over 400 retail outlets in the UK under the names Stead & Simpson, Shoe Express and Lilley & Skinner.

15 March 2005