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John Lewis of Hungerford PLC on Thursday announced a widened loss in the six months to December 31, as cost increases outpaced revenue growth. The Wantage, Oxfordshire-based kitchen manufacturer and retailer said its half-year pretax loss widened to £174,000 from £81,000. Revenue climbed 18% to £5.4 million from £4.6 million. Cost of sales however increased 23% to £3.1 million from £2.5 million. Administrative expenses stretched 20% to £2.1 million from £1.8 million. The company said in the first 38 weeks of financial 2023, dispatched sales and confirmed orders were at £9.2 million, 8.2% higher than £8.5 million a year prior. It anticipates full year revenue of around £12 million, up 16% from £10.3 million in financial 2022. Further, it expects its pretax profit to be higher than £13,559 in financial 2022. John Lewis of Hungerford shares were 0.1% higher at 1.55 pence each in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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