Half Yearly Report
Key highlights for first half
* Work on the Transformation and Growth plan is progressing well, with store
portfolio restructuring on track, new store format launched, management team
restructured and strengthened, website relaunched, improved value
proposition, new ranges across all three business segments and improved
focus on customer service
* Worldwide network sales up 2.1% at GBP636.8 million, with International retail
sales up 10.8% and UK retail sales down 8.6%
* International like-for-like sales up 4.4% and UK like-for-like sales
performance improved, with decline reduced to -3.4%
* Group underlying loss before tax reduced to GBP0.6 million (H1 2011/12: loss
of GBP4.4m)
* Net debt of GBP29.8 million, following tight control of working capital and
cash