Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

John Smedley posts a turnaround in fortune

British knitwear brand John Smedley has turned its financial fortunes around, posting a pre-tax operating profit of £156,425 for the 15 months to March 31.

This represents a dramatic improvement on the previous reporting period, when the brand made a pre-tax loss of £1.8m over the 2010 calendar year. Turnover for the 15 month period was £18.9m, compared with £15.6m.

The business was brought back on track thanks to widespread cost reductions - including some redundancies - and improvements in overall efficiencies.

Chairman Charles Marsden-Smedley said: “Having steadied the ship, we are now actively involved in finding ways to achieve our next goal - to create a model of sustainable profit.”

The extended reporting period reflects a shift in the brand’s financial calendar.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.