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Pringle receives investment, reports £9.3m loss

Pringle of Scotland received payments from its owners totalling £18m last year and has reported a loss of £9.3m in the year to March 2009.

The luxury knitwear label reported that its losses were less deep than during the previous year to March 2008 when they stood at £9.7m.

Pringle’s sales for the year were flat at £17.3m while gross margins climbed from 39% to 43% for the year.

In accounts filed at Companies House, the directors stated: “Given the continued investment in the Pringle of Scotland brand, we are not expecting to report operating profits in the short term but are satisfied that the business is progressing in line with their long-term strategic objectives.”

 

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