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Laura Ashley profits plunge

Wednesday, 1 April 2009

Fashion and interiors firm Laura Ashley reported a plunge in annual pre-tax profits to £9.6m from £15.8m previously, with comparable sales down 6.2% in the year to January 31.

The group said “targeted promotional activity” drove an improvement in like-for-like sales since the year-end. Laura Ashley, which has 228 stores in the UK, added to its portfolio with an additional 29 stores last year.