Department stores group Beale reported a lower loss for the year to October 2010. Revenue rose 2% to £48.6m, while the loss fell from £987,000 to £668,000. The loss would have been lower without the acquisition of stores in Hexham and Rochdale during the financial year. House broker Northland Capital Partners was expecting a small loss but the reported figure was much higher. Like-for-like admin expenses have been cut by £1.3m. Net debt was £9.11m at the end of October 2010. The pension deficit is £2.5m. Gross sales including VAT were 4.6% higher in the 11 weeks to 15 January 2011. Snow disrupted trading in both the relevant periods but at different times in each 11 week period. These were not described as like-for-like figures. The two new stores should make a significant contribution this year. Further acquisitions are being sought. The VAT increase from 17.5% to 20% makes the outlook uncertain.