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Beale 1H Pretax Profit Up 67% To GBP0.9M

Mon, 28th Jun 2010 08:06

LONDON (Dow Jones)--Beale PLC (BAE.LN), a specialist department store operator, said Monday that for the 26 weeks ended May 1, it made a pretax profit of GBP0.9 million on revenue of GBP26.2 million. MAIN FACTS: -Profit before tax increased by 67% to GBP909,000 (2009: GBP543,000). -Gross sales which include concession sales and VAT fell by only 1.1% despite January snow. -Revenue at GBP26.2M (2009: GBP26.7M) declined by 1.8% in the challenging environment. -Administrative expenses at GBP13.1M (2009: GBP13.7M) were 4% down on previous year. -Earnings per share of 4.43 pence (2009: 2.65 pence). -On June 4 acquired new store of Robbs of Hexham for GBP250,000. -Expects recovery from the recent recession to continue -Expects the pace of that recovery to be relatively subdued -No dividend is proposed (2009: nil). -Net debt increased slightly, from GBP6.46 million to GBP6.66 million. -Shares at 0704 GMT up 2.0 pence, or 6.6%, at 32.5 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com (END) Dow Jones Newswires June 28, 2010 03:06 ET (07:06 GMT)
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