Moss Bros cuts a fine interim figure
Tuesday 25 October 1994
The shares soared 37p to 375p as the company said taxable profits leapt to pounds 1.92m in the six months to end-July, against pounds 625,000 last time. The interim dividend advances from 1.5p to 3p, although the company said this was partly to spread the annual payout more evenly.
Headline turnover rose 18 per cent to pounds 30.1m, while like-for- like sales managed a 15 per cent increase. Earnings per share were boosted to 7.6p (2.5p).
Terry Donovan, finance director, said Moss Bros, which owns Savoy Taylors Guild, The Suit Company and Cecil Gee, owed part of its progress to changing demographics, with its products targeting the 25 to 65-year-old market.
Mr Donovan said: 'This market is the fastest-growing menswear market throughout the country. It has increased 30 per cent in the past 10 years at the expense of the 15 to 25- year-olds.'
The company had also benefited from targeting different style sectors. The Suit Company is its mainstream arm, Cecil Gee is the main fashion outlet, while Savoy Taylors Guild is geared to the classic, upmarket sector.
A return of more tourists, which particularly benefited the group's London stores, had also helped first-half performance, Mr Donovan added.
In the first six months, new shops were opened for Savoy Taylors Guild in Thurrock, and for Cecil Gee - which aims at the fashion market - in Sheffield. Five shops were converted to the Savoy Taylors Guild format. It is estimated that five more shops - two of them in The Suit Company format - will be opened by the end of the financial year.
Analysts are pencilling in full-year profits of about pounds 6m. Tim Kirkwood, at Panmure Gordon, said the figures were very good, but that he was concerned about store opening costs in the second half.
elephant appealPrince William signs up for our charity appeal
elephant appealSo says man jailed for cutting off dead elephant's tusks
booksWe examine the best titles for teens
scienceResearchers teach border collie to understand sentences using more than 1,000 words
booksA Christmas story in six parts
travelWill high-value tourism help the workshops of this Renaissance city?
Geoffrey Macnab does not like the comedian's big screen debut
Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
Ten best places to live in the UK: Hart in Hampshire takes top spot
'Untrue statements' anger over work to make H5N1 bird-flu virus MORE dangerous to humans
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 The publisher who played with fire: the battle for control of Larsson's £30m legacy
- 5 Police seize possessions of rough sleepers in crackdown on homelessness
- < Previous
- Next >
iJobs Money & Business
£59999 - £80001 per annum + Benefits: Pro-Recruitment Group: A Top 10 firm in ...
£50000 - £75000 per annum + benefits + bonus: Harrington Starr: Project Manage...
£60000 - £90000 per annum + benefits + bonus: Harrington Starr: Business Analy...
£Negotiable: Citifocus: High calibre individual with institutional client serv...