Profits flat at Fortnum as overseas visitors spend less
Tuesday 09 September 1997
He said difficulties were encountered during the complex underpinning and foundation stages of the building of the store extension, and the programme had been delayed. "This means we will not be able to trade the full extended ground floor this Christmas," he warned.
Mr Weston said the group's budgets, which were currently being met, called for an increase in underlying profit, but as they were based on the assumption that the UK economy remained buoyant during the Christmas trading period, and that the pound did not continue to strengthen, it was too early to estimate the outcome.
In the year under review, departments such as wines, hampers and cakes achieved growth above 10 per cent as sales to local customers remained buoyant throughout the year. Menswear and ladies fashions also benefited from this buoyant trade.
However, Mr Weston said spending by overseas visitors fell by an estimated 20 per cent in the second half compared with the strong performance in the comparable period of 1996. As a result of the building work food hall selling space has been reduced by nearly 10 per cent since April.
Despite the flat profits performance, the dividend is being increased from 7.6p to 8.3p.
Threat of 'catastrophic cascade of collisions' must be averted, warn scientists
Oxford is the least affordable city in the UK, where houses cost 11 times local salaries
Wellcome Image Awards: The most striking images from the world of science, including breast cancer cells under chemical attack and a photographer’s own kidney stone
Space debris orbiting Earth to be destroyed with giant lasers fired from Australia
Swarm of killer bees sting woman 1,000 times
Oscar Pistorius trial: Athlete repeatedly vomits as court hears 'graphic details' of Reeva Steenkamp's autopsy
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
Exclusive: Impact of immigrants on British workers ‘negligible’
Vince Cable: Teachers 'know absolutely nothing' about the world of work
Ukraine crisis: Russia pledges to 'retaliate against sanctions' as Ukrainian president says Crimea vote will not be recognised
The quiet diplomat: Catherine Ashton - recognised and admired in all the world’s troubled countries, yet ridiculed at home
- 1 Australian man Rod Sommerville reacts to bite from deadly snake by reaching for cold beer
- 2 North Korea elections: Kim Jong-un wins 100% of the vote
- 3 David Cameron resorts to paying for Facebook fans because not enough people like him
- 5 Sharknado 2: Former WWE wrestler Kurt Angle to fight second wave of flying sharks
iJobs Money & Business
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£55000 - £70000 per annum + benefits: Pro-Recruitment Group: In-House Corporat...
£80000 - £100000 per annum + benefits: Pro-Recruitment Group: In-House Opportu...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...