10th Oct 2005 07:00
Theo Fennell PLC10 October 2005 Theo Fennell Plc Trading Update and International Strategy Following the completion of trading for the six months ended 30 September 2005Theo Fennell Plc ("Theo Fennell" or "the Company") announces an update ontrading and its international strategy. The Company will announce its interim results for the six months ended 30September 2005 on Wednesday 2 November 2005. Current Trading During the six month period ending 30 September 2005, the Company has achievedlike for like sales growth ahead of expectations at 4.5% versus the prior yearperiod, against a stable cost base. This will result in improved bottom lineperformance for the first half. The Company is benefiting from its unique design, last year's investment in theflagship store, the expansion of its wholesale network and the increasingstrength of the Theo Fennell brand. Recent high profile collections have drivensales growth together with demand for "haute couture" and signature pieces. Overseas Expansion Theo Fennell has recently concluded important international expansion agreementsgiving the Company an immediate presence in the Middle East and Asia with thepotential to develop representation and franchises across these regions. In November Theo Fennell will be launched in the newly refurbished Pacific PlaceLane Crawford store in Hong Kong and in December the first of the Group's MiddleEast franchise concessions will open in Harvey Nichols in Dubai. Duty Free representation has also been extended to Terminal One HeathrowAirport, alongside Theo Fennell at Terminals Three and Four. Theo Fennell's overseas luxury resort representation has been expanded with theopening of a store in the prestigious Soneva Fushi resort in the Maldives,complementing its representation in the Sandy Lane Hotel and Marbella stores. Outlook Trading in the first half was strong with Theo Fennell outperforming inchallenging market conditions. With new overseas distribution channels andcritically acclaimed high profile collections due to be launched shortly TheoFennell is well prepared for the important Christmas period. Richard Northcott, Chairman Theo Fennell Plc, commented: "I am very pleased at the progress the Company has made in the first half of theyear with the brand performing strongly in difficult market conditions; Ibelieve the overseas expansion will not only drive sales growth but also supportTheo Fennell's development into a major international brand." 10 October 2005 Enquiries: Theo Fennell Richard Northcott 020 7589 3097 [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:
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