John Lewis of Hungerford Plc (AIM: JLH), the specialist manufacturer and retailer of kitchens, bedrooms and freestanding furniture, provides an update to the market on its expected outturn for the year ended 30 June 2019 and current trading.
Further to the announcement on 7 May 2019, which stated ‘no longer expects to recover much of the loss reported for the six months ended 31 December 2018′, the Company confirms that trading in the second half of the year was better than anticipated then and, therefore, it now expects to report a loss in the range of £220,000 to £240,000 for the year ended 30 June 2019.
In the period following the year ended 30 June 2019, sales are tracking at the same level as those for the same period last year at £2.5m. The Company’s forward order book is currently at £1.6m (2018: £1.9m), reflecting a cautious attitude from customers in relation to uncertainty surrounding Brexit. The Company is therefore taking a cautious approach to trading and is focusing on maximising conversions but also on reducing cost within the business. Overall design quotation activity within the business is up on this time last year and the Company expects conversions to improve once there is clarity over the current political environment.
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