John Lewis of Hungerford says H2 trading in line
(ShareCast News) - AIM-listed kitchen and bedroom furniture manufacturer John Lewis of Hungerford said trading in the second half, traditionally its stronger period, was in line with the expectations announced in May.
Based on unaudited management information, the company expects to report sales for the year ended 31 August of £8.2m, unchanged from 2016 and a "small" operating profit.
"As previously announced, in the prior year we took the decision to close our showrooms in Tunbridge Wells and Harrogate. Both ceased trading by 31 December 2016 and, after adjusting for the effect of these closures, the underlying sales growth for the year is around 4%," it said.
Also on Wednesday, the group announced the appointment of James Barnard as a non-executive director with immediate effect.