Moss Bros losses narrow.
Strong suit sales through the year with current trading up 8 per cent by volume
The company posted a pre-tax loss of £3.9m before exceptional items, compared with £5m the previous year. Revenues fell slightly to £128.7m from £129.7m. Like-for-like sales rose by 1.6% in the second half compared with a fall of 2.6% in the first half.
On current trading the company said that like for like sales in the first seven weeks of the current year were ahead 15% on previous year with gross profit ahead 12%.
Commenting on the results and outlook, Brian Brick, Chief Executive Officer, said: “We have made good progress on all of the operational priorities we set out at the beginning of the year and this has had a very positive impact on trading despite the difficult trading conditions last year. We continue to build clear strategic goals, an effective management team and a track record of delivering. Current trading reflects strong like for like growth and our continued focus on the operational priorities, with the support of our strong balance sheet, gives me great confidence that we will fully leverage the potential of this business.”
