(Alliance News) - John Lewis of Hungerford PLC on Thursday announced a widened loss in the six months to December 31, as cost increases outpaced revenue growth.
The Wantage, Oxfordshire-based kitchen manufacturer and retailer said its half-year pretax loss widened to GBP174,000 from GBP81,000. Revenue climbed 18% to GBP5.4 million from GBP4.6 million. Cost of sales however increased 23% to GBP3.1 million from GBP2.5 million. Administrative expenses stretched 20% to GBP2.1 million from GBP1.8 million.
The company said in the first 38 weeks of financial 2023, dispatched sales and confirmed orders were at GBP9.2 million, 8.2% higher than GBP8.5 million a year prior.
It anticipates full year revenue of around GBP12 million, up 16% from GBP10.3 million in financial 2022. Further, it expects its pretax profit to be higher than GBP13,559 in financial 2022.
John Lewis of Hungerford shares were 0.1% higher at 1.55 pence each in London on Thursday afternoon.
By Tom Budszus, Alliance News reporter
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