6 months to 31 July 2013 (pdf)
presentation for the 6 months to 31 July 2013 (pdf)
Half-year results for the six month period ended 31 July 2013
French Connection PLC ("The Group"), today announces interim results for the six month period ended 31 July 2013.
- Reduced loss before tax of £6.1 million (2012: loss of £6.3 million)
- Progress in UK/Europe Retail with losses reduced by £1 million
- Improved cash position of £22.3 million (2012: £21.2 million), no debt and a significant reduction in stock levels
Commenting on these results Stephen Marks, Chairman and CEO of French Connection said:
"We have continued to implement significant changes across the business and our new team has now been in place for almost a year. This has led to improved margins, ranges and retail disciplines across our UK business.
We have recently launched the Winter collections and the reaction has been encouraging although it is still early in the season. With the recent improvement in the wholesale order books, the changes we have made are starting to resonate with our customers.
Although it is early days in our turnaround, the underlying strength of the business and the significant global awareness of the brand, coupled with the changes we are making provide the foundations for continued improvement and give me confidence for the future."
Neil Williams/Adam Castleton French Connection +44(0)20 7036 7063
Tom Buchanan Maitland +44(0)20 7379 5151