12th Aug 2021 11:37
(Alliance News) - John Lewis of Hungerford PLC said on Thursday it anticipates a profitable full year as stores reopening boosted its order book.
Shares in the kitchen specialist were up 29% at 1.35 pence in London on Thursday morning trading.
The Wantage, Oxfordshire-based kitchen manufacturer and retailer initially expected to achieve a second half profit in the year ended June 30.
However, its full year results are set to exceed expectations as the firm now expects second half profit to offset its first half loss, resulting in a "small" full year pretax profit.
The company booked a pretax loss of GBP213,000 in the first half of 2021. In 2020, it booked a half year pretax loss of GBP398,000 and an annual pretax loss of GBP885,816.
John Lewis of Hungerford stores reopened on April 15. At present, it holds an order book of GBP4.7 million for 2022, compared to GBP2.8 million for the same period in 2020 and 2019.
The current order book comprises GBP2.3 million sales recorded to date and GBP2.4 million forward orders.
"The board is particularly pleased with this result, following an uncertain and challenging 12 months, with our stores closed for a combined total of 18 weeks during the various lockdowns," said John Lewis of Hungerford.
The company added that it "worked hard to further develop its digital presence" in the year, offering services by appointment and video call software.
"Our teams have worked hard to serve our customers well during a highly challenging 18 months. The company has developed a range of tools to support our employees to be able to deliver a high standard of service across the customer journey," said Managing Director Kiran Noonan.
"We are pleased with the performance of the company for the current year to date and look forward to reviewing our FY21 year in full."
By Josie O'Brien; [email protected]
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