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John Lewis of Hungerford narrows annual losses on cost cuts
StockMarketWire.com
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Home furniture retailer John Lewis of Hungerford narrowed annual loss on cost cuts and the government support received during the pandemic.
For the six months ended 31 December 2020, pre-tax loss narrowed to £213,000 from £398,000 last year as sales fell were flat £3.3 million
The narrower losses was due in part to the 'structural costs savings made last year and a portion can be attributed to government support received during the pandemic,' the company said.
'The government's road map out of lockdown currently states that our showrooms can re-open on 12 April 2021,' the company said.
'Our central scenario reflects the strength of current trading and projects a profitable second half of the year. Under this scenario we also expect to enter the new financial year to June 2022 with an order book which will be higher than in recent years,' it added.
At 9:26am: (LON:JLH) John Lewis of Hungerford PLC share price was 0p at 0.59p
Story provided by StockMarketWire.com
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