5 February 2014 – trading update
The company has issued a pleasing trading update. In the December to January period, UK/Europe Retail sales and margin were both better than expected. The UK wholesale forward order book is said to be strong and shipments have been ahead of last year. Trading across the other activities was broadly in-line with previous expectations. The company now expects a narrower loss before tax and exceptional items than expected at around £4.7m for the full year (2013: £7.2m loss). Net cash was over £27m at the year end. Results are due out on 12 March and we suggest that readers continue to BUY FOR RECOVERY.