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Profits jump 14.9% at Laura Ashley

Laura Ashley has reported a 14.9% increase in pre-tax profits to £8.5m for the 26 weeks to July 26.

Profit before tax excluding exceptional items was up £700,000 for the period to £8.5m, while total group sales were up 4.9% to £144m, up from £137.3m in 2013.

Like for like sales were up 1.2%. International sales at the business soared by 13.8%, while online sales increased by 6.1% for the 26 weeks.

Trading for the five weeks to August 30 is up 8% year-on-year.

Laura Ashley chairman Tan Sri Dr Khoo Kay Peng said the company was pleased with the results in an “extremely competitive” sector.

He added: “We look forward to the rest of this year with confidence in the strength of our brand, in the quality of our products and in the loyalty of our many customers.  We will continue to develop our international presence as well as focusing on our UK retail business with continued enhancement of our website, for both our domestic and international customers, and improvements to our store portfolio.”

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