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French Connection's profits in line with expectations

French Connection, the men’s and womenswear chain, has said its profits for the first half will be in line with management expectations.

In a statement the group said despite the difficult market conditions it achieved like-for-like sales growth in its UK stores for the six months to July 31. French Connection also added that net cash at the end of the first half was ahead of expectations, at around £30.5m.

The chain said it approaches the winter season with “confidence” as wholesale orders for winter are ahead of last year.

In September the company will announce its first half results for the six months to July 31.

In its latest results released in March, French Connection’s pre-tax profits at the group’s core continuing operations, excluding Nicole Farhi which was sold for £5m in March last year and the Japanese business which closed last year along with a number of stores around the world, climbed to £7.3m in the year to January 31 from £0.7m the year before helped by the improved wholesale performance and better margins.

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