Laura Ashley reports 4.9 percent rise in H1 sales

REPORT_ Through an interim statement released by the Laura Ashley Group for the 26 weeks to 26 July 2014, it said that total group

sales increased by 4.9 percent to 144 million pounds (235 million dollars) compared with the same period last year. Total UK retail sales increased by 3.8 percent to 124.6 million pounds (03.3 million dollars). Like-for-like sales grew by 1.2 percent over the same period. E-commerce sales grew by 6.1 percent.

Profit before taxation, excluding exceptional items, increased by 9 percent and profit before taxation, including exceptional items grew by 14.9 percent. Operating expenses, excluding exceptional items, fell by 0.7 percent compared to the same period last year. The Board has approved the payment of an interim dividend of 1 pence per share. The interim dividend will be paid on 3 October 2014 to all shareholders on the register at the close of business on 19 September 2014.

As at 26 July 2014, the property portfolio in the UK comprised 208 stores compared to 209 in January. During the first half, two new stores were opened and three were closed, reducing total selling space by 1.3 percent. Total e-commerce sales were up 6.1 percent on last year and now represent 18 percent of total UK Retail sales. While Furniture sales for the 26 weeks decreased by 2.2 percent with like-for-like sales down 1.2 percent, home accessories sales increased by 2.9 percent over the same period last year with like-for-like performance up by 4.3 percent. Fashion category including adult fashion, fashion accessories and perfumery decreased by 2.6 percent over the same period last year, with like-for-like sales up 0.1 percent, which underperformed the market for this period.

As at 26 July 2014, there were 296 franchised stores in 32 territories worldwide. Additional stores were opened in Japan, Australia, South Korea and Russia. Franchise and licensing revenue grew by 13.6 percent during the 26 weeks to 26 July 2014. Trading for the five weeks to 30 August is up 8 percent on a like-for-like basis, taking the cumulative like-for-like performance for the year to over 2.3 percent.