John Lewis of Hungerford confirms third-quarter growth

John Lewis of Hungerford updated the market on its current trading on Friday, confirming its third quarter sales to 31 May were 12.5% higher than the previous year at £1.86m.

The AIM-traded company said the aggregate of despatched sales at the end of the third quarter and the forward order stand at £6.9m, a 9.5% increase over the comparative period last year.

“The forward order book represents committed orders for which deposits have been taken,” John Lewis’ board said in a statement.

“We consider that this remains the best measure of current trading although our revenue recognition policy continues to be to recognise sales at the point orders are despatched.

“These results are derived from a comparable showroom estate year-on-year.”

In the same statement, the company’s board said it expects to conclude the process of appointing a new independent non-executive director by the end of the year.