10th Jan 2008 16:02
Beale PLC10 January 2008 10 January 2008 BEALE PLC - TRADING STATEMENT The Directors of Beale plc announce that, although our results for the 53 weeksto 3 November 2007 will be marginally ahead of brokers' forecasts, results forthe financial year ending 1 November 2008 are likely to fall short of marketexpectations. Whilst November sales were at similar levels to those of the previous year, theeconomic environment deteriorated significantly in the final weeks of thecalander year, with footfall reduced markedly during December; although sinceChristmas sales have improved slightly compared with last year. Whilst our stocks have been well controlled, our margins have been put underconsiderable pressure by the requirements to clear residual Autumn/Winter 2007apparel and to meet the considerable promotional discounting in the high street. Like for like sales, including concessions and VAT, for the past 9 weeks to 5January were down 6%. Whilst it is still very early in our trading year, it now seems unlikely that,in light of the current economic environment, our sales and results targets willbe achieved. It is also unlikely that a dividend will be paid for the currenttrading year. Our results for the 2006/7 trading year will be released on 28th January 2008. For further information: Beale PLC Tavistock Communications Blue Oar Securities PLCAllan Allkins, Chief Executive Lulu Bridges Jerry KeenTel: 01202 552022 Polly Hutchinson Tel: 020 7448 4492 Tel: 020 7920 3150 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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