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John Lewis of Hungerford PLC on Monday posted a narrowed loss for the first half of its financial year, on the achievement of record revenue.
For the six months ending December 31, the Wantage, Oxfordshire-based kitchen manufacturer and retailer's pretax loss narrowed to £81,000 from £213,000, on revenue which grew 39% to its highest ever at £4.6 million from £3.3 million a year prior.
The group's 38-week total of despatched sales and confirmed forward orders climbed to £8.5 million from £6.5 million, leading to strong expectations of achieving total revenue of at least £10 million for the financial year ending June 30.
‘Given the uncertain climate in which we are operating, the board have modelled a range of scenarios for the financial out-turn in the current year, and our central scenario would deliver a profit which is materially ahead of the prior year,’ the company stated.
The company explained it remained cautious regarding any significant disruption to its production and logistics capabilities. Any profit lost in the current financial year 2022 would be carried over into the next financial year reporting period, John Lewis of Hungerford added.
John Lewis shares were 1.5% higher at 1.70 pence each in London on Monday afternoon.
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