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21 Nov 2013 07:00
21 November 2013
FRENCH CONNECTION GROUP PLC
Interim Management Statement
French Connection Group PLC ("the Group") today announces its Interim Management Statement for the 16 week period from 1 August to 20 November 2013.
The performance of our UK/Europe retail business has improved during the period. On a like-for-like basis, revenue increased by 2.1%, despite lower levels of clearance activity early in the period. We are encouraged by the reaction to our Autumn 2013 range, the first season collection from our new design team. As expected, we have also seen a growing impact from the operational improvements that have been implemented.
UK/Europe wholesale revenue was in line with the same period last year representing an improvement on the downward trend we have seen over recent seasons. The order book for Spring 2014 is slightly ahead of this time last year.
Trading in the rest of the Group operations and in Brand Licensing was in line with our expectations.
Net Group cash, which falls during a cyclical low period of the year, was £10.0m (2012: £10.6m).
Whilst the Group continues to make good progress the full year results will as ever be dependent upon the performance over the key Christmas trading period.
Other than as detailed above, there have been no material events or transactions in the period from 1 August to 20 November 2013.
Enquiries:
Adam Castleton/Neil Williams | French Connection | +44(0)20 7036 7063 |
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Brian Hudspith | Maitland | +44(0)20 7379 5151 |
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