Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Ultimo makes loss and warns of more to come

Lingerie brand Ultimo has announced a pre-tax loss of £3.9m for the year to 31 December 2016, and has warned that further losses still lie ahead.

The loss was attributed to costs, expenses and writing down intangible assets. The company noted that it expects to make further losses in the year to December 2017.

Sales for the period were £2.2m. 

A spokeswoman for the retailer said: ”Trading remains incredibly competitive and the 2016 figures reflect this. It’s a pattern that we expect to continue throughout 2017, due largely to ever-increasing competition, heavy high street discounting, continued pressure on household incomes and the rising cost of imports following the Brexit decision. But we remain focused on our goal to grow revenue and return to profitability by adapting to the conditions.”

Ultimo was originally founded by Michelle Mone in 1996, and is now owned by the Sri Lankan lingerie firm MAS Holdings.



Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.