(Alliance News) - John Lewis of Hungerford PLC said Thursday it expects to report a narrowed loss for its recently ended financial year, following better-than-expected trading in the second half.
The kitchen and bedroom furniture retailer said it expects to report a loss in the range of GBP220,000 to GBP240,000 for the year that ended in June. For the year ended June 30, 2018, John Lewis of Hungerford had reported a pretax loss of GBP373,838.
In the period to date following the year-end, sales are at the same level as the same period the prior year, at GBP2.5 million.
John Lewis's forward order book stands at GBP1.6 million, down from GBP1.9 million a year prior. The company said this reflects a cautious attitude from customers amid continued Brexit uncertainty.
John Lewis said it is taking a cautious approach to trading, and is focusing on reducing costs within the business.
Once there is clarity over the current political environment, the company expects sales conversions to improve.
John Lewis of Hungerford will publish its annual results in early November.
Shares in John Lewis of Hungerford were untraded on Thursday, last quoted at 0.65 pence in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.
