ALY.L Regulatory News (ALY)

20 Jan 2005 07:00

Ashley (Laura) Hldgs PLC20 January 2005 20 January 2005 Laura Ashley Holdings plc ("Laura Ashley" or "the Company") Laura Ashley Holdings plc today announces a trading update for the 24 weeks to15 January 2005. Our Home Furnishings and Fashion businesses have experienced animproving margin rate, although both have experienced a decline in turnover. In the 24 weeks to 15 January 2005, total like-for-like sales in the UK weredown 11.6%. UK Home Furnishings, like-for-like sales decreased 4.1%. UK Fashionlike-for-like sales decreased 28.2 %. In the 50 weeks to 15 January 2005, total like-for-like sales in the UK weredown 10.1%, with UK Home Furnishings up 0.1% and UK Fashion down 31.2%. Over the50 week period margin rates in the UK have experienced sustained improvement. In line with the Home Furnishings sector as a whole, we have experienced adifficult trading environment and increased competitiveness. The decline in ourHome Furnishings sales is in part due to this and in part due to a strategy ofreduced reliance on promotional activity. It is expected that, through a programme of cost cutting and margin improvement,profit before tax for the full year will be within the range of brokers'forecasts. In line with last year, we do not provide Christmas trading information to themarket. Laura Ashley's Home Furnishings business represents three quarters of UKretail turnover. Customers tend to make large purchases of furnishings outsidethe Christmas period and therefore Christmas trading statistics do not serve asa useful indication of overall trading performance. Enquiries Tom Buchanan Brunswick 020 7404 5959James Olley This information is provided by RNS The company news service from the London Stock Exchange