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Dawson improves its operating performance

20
Sep '08
Dawson International is one of the world's leading cashmere businesses. It operates in every aspect of cashmere from goat to garment.

- Turnover £41.7 million (2007: £40.1 million)
- Operating loss before non-recurring items £1.1 million (2007: £3.8 million)
- Improved operating results in all divisions
- Sale of Dorma trademark in July

Commenting on the half year results for the six months ended 28 June 2008, chairman Mike Hartley said: “I am encouraged by the performance of all of our businesses in the first half of 2008.

Despite challenging economic conditions turnover has increased from £40.1 million to £41.7 million and the first half operating loss before non-recurring items has reduced from £3.8 million to £1.1 million with all divisions improving their results. Order books for the second half are currently in line with our expectations.

“The economic climate is, however, challenging in all of our markets and we remain cautious in our assessment of the impact of consumer spending levels in our outlook for the full year and into 2009.

The disposal of the Dorma branded division will benefit funding and improve profitability in the longer term. We will continue to focus on improving profitability and implement changes where necessary to deliver acceptable returns on assets employed across all of our businesses.”

The Company will be making a presentation to analysts on Wednesday 3 September which will be available on the Dawson International website.

The Half Year Report for the six months ended 28 June 2008 will be dispatched to shareholders on 17 September 2008.

Dawson International


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