19 June 2017 – final results
The woman’s value retailer has announced its annual results to 1 April which have shown that adjusted pre-tax profits have come in slightly higher than expected at £6.3m (2016: £10.6m) on revenues which were very slightly higher at £190m (2016: £188m). Underlying earnings per share were 10.1p (2016: 18.3p). The dividend for the year was maintained at 7.14p. Clearly these are disappointing results although this is largely reflected in the share price. The group is looking to improve the way it operates and continues to believe it is well placed to serve the over 50s value clothing market which it believes is not fully provided for. With net cash at the year end of £5.5m the shares do have RECOVERY POTENTIAL.