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Jacques Vert makes pre-tax profit of £5.1m

Retailer Jacques Vert has posted pre-tax profits of £5.1m for the 52 weeks to April 24.

The retailer, which owns Jacques Vert, Windsmoor, Planet and Precis, last year posted a loss of £2.9m due to incurring exceptional charges including £3.8m for coming out of onerous leases. Retail sales 4% rose to £115.3m during the period, with like-for-like sales up 2.8%.

Jacques Vert has continued to see a strong performance in the nine weeks since April 24 with retail sales climbing 3.9% compared to last year and like-for-like sales up 1.5%.

The business will return to paying out a dividend after 15 years as a result of an improvement in the financial position of the company. The board has proposed a final dividend of 0.65p per share.

The company said it will invest around £3m in its online operations, which will include an upgrade of its online platform.

Jacques Vert chairman Steve Bodger, said: “These are a strong set of results and a return to the dividend list after an absence of 15 years is a sign of the confidence we have in the business. These results, together with the progress that the group has made during the year, demonstrate that the group is now well positioned to take advantage of any opportunities that may arise in what is likely to be an unpredictable year ahead.”

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