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Sales up but earnings down at Aurora

Aurora Fashions has grown sales in the year to March 2, 2013 - but earnings fell by nearly a quarter.

The group, which currently owns retailers Oasis, Warehouse and Coast, saw total sales rise 2% to £412.5m over the 53 week period, up from £406.6m the previous year.

However pre-tax operating losses before exceptional items rose to £7.5m from £5.9m while EBITDA from continuing operations fell from £12.7m to £9.3m.

During the year, the business acquired the shares of Coast’s Spanish arm, as it transitions through a restructure that will see Coast split out as a standalone retailer. Warehouse and Oasis will continue to operate in a group unit, called Fresh Channel, and Aurora will cease to exist.

A statement, signed by chief financial officer Richard Glanville, said: “The directors expect the performance of the Coast, Oasis and Warehouse businesses to show significant improvements in the coming years. Particular focus will be placed on the development of omnichannel presence in both the UK and overseas.”

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