Laura Ashley ups dividend as sales and profits rise
08 September 2011 10:33
British fashion and homewares brand Laura Ashley has defied the gloomy conditions today, posting a rise in profits and sales, which pushed the company's dividend up 100%.
In the 26 weeks to July 30th, the company saw profit before tax and exceptional items rise 28% and UK like-for-like sales grow 3.5%.
Commenting on the results, Tan Sri Dr. K P Khoo, chairman, said: "These are a set of pleasing results with a 28% increase in profit before tax and exceptional items and a UK like-for-like sales growth of 3.5% over the period in what has been a very unsettled time for the retail sector.
"I am delighted that, once again, Laura Ashley's strong product offering, distinctive brand and continued focus on providing an attractive retail experience for customers have delivered another robust performance.
These results show that our multi-channel and international strategies are working well.
These, along with our strong balance sheet and ongoing operational efficiencies, give me confidence, notwithstanding the continuing economic headwinds, that we will meet the Board's expectations for the year."
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