Alexon Group plc, the leading vendor of ladieswear, menswear and shoes, announces Preliminary Results for the 52 weeks ended 28 January 2006, which have been prepared in accordance with International Financial Reporting Standards.
Key Points Turnover amounted to £413.6m (2005: £424.4m);
Gross margins broadly in line with the prior year; l-f-l sales down 1.4 percent;
Operating profit of £19.7m (2005: £29.4m), in line with market expectations;
Basic earnings per share amounted to 25.73p (2005: 36.35p);
Final dividend proposed of 6.0p, making a total of 9.0p for the year (2005: 8.5p), up 5.9 percent;
Strong cash position during the year enabled a repurchase of 1.1 million shares during the year under review and a further 1.2 million shares in the current financial year;
John Osborn, Chief Executive, commented: “As we are anticipating another tough year, our emphasis will continue to be on product innovation and cost control. We are confident that the steps already taken in Dolcis and Menswear will improve the performance of both Divisions and that Bay Trading and Alexon Brands can make further progress.”
Chief Executive's Report Results Operating profit for the 52 weeks ended 28 January 2006 was £19.7 million as against £29.4 million for the prior year, and is in line with market expectations.
Group sales for the year were 1.4 percent down on a like-for-like basis with gross margins broadly in line with the prior year. All four divisions were affected by the consumer downturn, with Dolcis and Menswear being the weakest performers; Alexon Brands generally held its own with its competitors; whilst Bay Trading put in a much better performance than in the previous year.
marketing@alchempro.com
