16th Jan 2006 07:00
Theo Fennell PLC16 January 2006 Theo Fennell Plc ("the Company") Christmas Trading Statement Theo Fennell Plc reports that it has achieved like-for-like sales growth of32.7% for the period 1 December to 24 December and of 15% for the first ninemonths of its current financial year to 31 December 2005. The Company iscurrently in line to meet its profit forecast for the year, in line with marketexpectations. Sales growth has been driven by the increasing popularity of the design led TheoFennell unique product as highlighted by the success of the recently launched 'Arts and Trellis collections, "haute couture" and signature pieces. In additionthe Company has also expanded its wholesale and retail UK and overseas networkwhich it expects to benefit from in 2006. Corporate Development On 2 November 2005, the Company announced that following an approach it was intalks to secure new investment. Since that time, it has been approached by anumber of other interested parties with whom it is now in discussion and istherefore no longer in exclusive talks with any single party. The currentdiscussions are to secure new investment for the Company to enable it toaccelerate its business plan of expanding overseas through concessions andfranchises. Richard Northcott, chairman of Theo Fennell Plc, commented: "Trading over the Christmas period and in the first nine months of the yearreflects the strength of both the "Theo Fennell" brand and the Company today. Weare now deriving the benefits of our investment in the business over the lastthree years which has extended Theo Fennell's reach both in the UK and overseasand raised the profile of the brand." "The Theo Fennell designs are now highly recognisable and in demand domesticallyand internationally. We are at the very early stages of our internationalexpansion, with a strong and growing UK business. The Company is well-positionedfor future growth." 16 January 2006 Enquiries: Theo Fennell Barbara Snoad 020 7589 5047 [email protected] Pelham Public Relations James Henderson 020 7743 6673 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
TFL.L