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Shoe Zone Interim Results Flat On Previous Year, Confident Outlook

LONDON (Alliance News) - Shoe Zone PLC on Tuesday reported an interim performance mostly flat on ...

Alliance News 21 May, 2019 | 10:15AM
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LONDON (Alliance News) - Shoe Zone PLC on Tuesday reported an interim performance mostly flat on the prior year.

For the six months to March 30, the shoe retailer posted pretax profit of GBP1.0 million, flat on the comparative period a year ago. Revenue was broadly flat at GBP73.0 million from GBP73.7 million.

Gross margins however, improved slightly coming in at 62% from 60.6% a year ago.

"The first half of our financial year has been positive for the group, trading in line with management's expectations and achieving profitable revenue growth in our two key growth areas of Digital and Big Box," Chief Executive Officer Nick Davis said. "Additionally, our refreshed digital strategy has also generated profitable growth, laying the foundation for a positive outlook for the rest of the year."

He added: "Trading momentum has continued into the second half, in line with market expectations. With our growth strategy in place, we believe we are favourably insulated against many of the structural sector issues and the board continues to look to the future with confidence."

The footwear retailer kept its interim dividend unchanged at 3.5 pence per share.

Shoe Zone shares were trading down 5.7% at 214.00 pence.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Shoe Zone PLC 126.40 GBX 1.53 -

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Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

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