Home / Knowledge / News / Apparel/Garments / Moss Bros like-for-like retail sales up 4.1% in FY'13
Moss Bros like-for-like retail sales up 4.1% in FY'13
25
Mar '13
Moss Bros Group PLC, the ‘UK’s No 1 Men’s Formalwear Specialist’, announces its Preliminary Results, covering the period from 29 January 2012 to 26 January 2013.
 
The Group’s performance continues in line with market expectations. Although mindful of the fragile economy, the business is on course to deliver further growth. 
 
Financial 
• Group like-for-like sales, including VAT, up 3.9% (2011/12: up 12.5%)
- Like-for-like retail sales up 4.1%
- Like-for-like hire sales up 3.1%
• Pre-tax profit before exceptional items at £3.0m, an increase of £2.1m on the prior year.
• EBITDA of £7.9m (2011/12: EBITDA of £5.8m), driven by improved sales and tight control over costs.
• Underlying gross margin significantly improved in the second half to be only 0.2% below last year (59.5% vs. 59.7%), despite raw material cost price pressures.
• Strong cash balance of £25.7m (2011/12: £23.3m).
• Exceptional credit of £0.1m comprising compulsory purchase compensation of £1.5m offset by an additional provision of £1.4m against loss-making stores. 
• Basic earnings per share, on continuing operations of 2.43 pence (2011/12: 1.63 pence per share). Basic earnings per share, on continuing operations, before exceptional items, of 2.24 pence per share (2011/12: 1.63 pence per share).
• Final dividend of 0.7p, total dividend for the year 0.9p, up 125% on the previous year. (2011/12: 0.4p)
 
Commenting on the results and outlook, Brian Brick, Chief Executive Officer, said:
“We continue to make good progress and to bring momentum to the growth in profit in spite of tough trading conditions. During 2013/14 we will continue the roll-out of the store development programme and the development of our   e-commerce multi-channel offering.  In parallel, we will undertake a customer insight project, to develop a clearer brand proposition for the business, enabling us to target customers in a more defined way. Further opportunities for growth are well supported by our strong balance sheet.
 
“The operational trends in the business are moving in the right direction and, although trading in the first seven weeks of 2013/14 is slightly below last year’s levels, we remain confident that the business will continue to make good progress in 2013/14 and meet market expectations. As a reflection of the Board’s confidence in the business, I am pleased to report that the Board will be recommending to its shareholders the payment of a significantly increased final dividend of 0.7p per share (2011/12: 0.4p), a total of 0.9p per share (2011/12: 0.4p).”
 

Moss Bros Group PLC

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search