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Laura Ashley sees colourful profits

By FashionUnited

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Fashion

Laura Ashley, the fashion and homewares group famed for its floral motifs, has seen soaring profits and is confident about the future despite the punishing trading environment. The group, which operates 217 UK stores,

reported a colourful pre-tax profit excluding exceptionals up 91% to £19.3m on sales 6.2% ahead to £285m in the year to January 29.

Laura Ashley made gains in all its main categories during the period. Furniture led the way with a 7.2% sales advance, or 8.9% like-for-like. Home accessories rose 3.1% and 4% like-for-like.

Decorating sales advanced 5.3%, equating to a 6.3% like-for-like improvement and fashion was up 2.6%, or 1.7% like-for-like.

In the core UK market total retail sales climbed 5.3% to £256.6m and were ahead 5.6% like-for-like.

Laura Ahsley chairman Tan Sri Dr KP Khoo said he was delighted with the performance but that conditions are challenging.

He said: “Since the beginning of February we have seen a decline in our performance which we attribute to a general weakening in the consumer economy.

“We believe that our strong product offer and brand, robust balance sheet and continued operational efficiencies give us a sound base to face the tough outlook ahead.”

Image: Laura Ashley
Laura Ashley