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Laura Ashley records growth in sales and profits for 2016

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Laura Ashley has posted a strong financial report for its year to June 30, with significant growth in sales and profits.

The retailer reported a 4.1 per cent rise in like-for-like sales across all categories, which was bolstered by a 15.7 per cent increase in online revenue.

Sales for the Malaysian-owned British retail chain which has stores all over the world as a whole soared 51 per cent, from £303.6 million in 2015 to £400.9 million for the 74-week period to June 30.

Meanwhile, its profit before tax and exceptional items also went up by 12.6 per cent from last year’s £22.9 million to £25.8 million.

Laura Ashley chairman Tan Sri Khoo Kay Peng said the continued like-for-like growth in the UK market was encouraging.

“The company will continue to focus on enhancing the design and quality of its product ranges upon whose provenance the brand has been built,” Peng said.

“In a time of uncertainty for retail and the global economy at large, I am optimistic and confident that Laura Ashley will remain a business with solid foundations to withstand challenges as they arise.”

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Published on Wednesday 17 August by Elias Jahshan

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