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Alexon post-Christmas pick up pushes profits to top of expectations

Alexon, the multi-fascia fashion group, said that pre-tax profits would be at least £12.5 million for the year after post-Christmas sales were better than expected.

Alexon, which issued a profit warning in December predicting profits would be between £11.5m and £12.5m for the year to January 26, said in a statement this morning: "Although the pre-Christmas trading period was as challenging as we had anticipated, post-Christmas trading has proved to be better than expected and gross margins have remained strong."

Alexon added: "Although the trading climate continues to be difficult, we are pleased to announce that pre-tax profits for the 52 weeks ending January 26 are expected to be not less than £12.5m."

Stock levels across the group are below last year's levels and the company said it expected to end the year with terminal stocks "well under control".

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