Fashion retailer Freeport profit rises 10% to £3.4mn
28 Feb '06
2 min read
- Action taken to maximise the value of Freeport's land and buildings in Scotland.
Financial overview
- Revenue from continuing operations up 20 percent over the previous period.
- Gross profit up 10 percent to £3.4m (2005: £3.1m).
- Underlying pre-tax profit from continuing operations up 51% to £1.03m (2005: £0.68m) before exceptional costs relating to the abortive corporate reorganisation of £1.5m (2005: £nil).
- NAV up 5p from 442p at 25 June 2005.
Commenting on the results, Chairman Sean Collidge said: "Trading in the 27 week period has been in line with management expectations. Construction of our new Roppenheim development is expected to commence during the year and we continue to actively pursue further development opportunities as part of the Group's expansion programme".
Freeport Plc was founded in 1994 by the current Executive Chairman, Sean Collidge and has grown to become Europe's leading developer and operator of retailer outlet villages.
marketing@alchempro.com
