11 Dec 2018 09:02
John Lewis of Hungerford plc
AGM Statement
John Lewis of Hungerford plc (AIM: JLH), the manufacturer, designer and retailer of fitted kitchens, kitchen furniture and bedroom furniture, will hold its Annual General Meeting at 2pm today at Crowne Plaza London Kensington, 100 Cromwell Road, London, SW7 4ER.
The Chairman of the Meeting will provide the following trading update:
Our despatched sales and forward orders (which we normally consider to be the best measure of current trading) currently stands at £4.7m (2017: £5.6m). Orders against which a first stage deposit has been taken, and for which there is a strong conversion into future sales, stood at £2.0m (2017: £1.3m).
We remain cautious in this challenging economic climate and are working hard to ensure the business shows growth for the full year. We are anticipating a loss in the first half year, in line with our expectations, due to the seasonality of the business. However, based on the current order book and assuming economic conditions do not deteriorate, we expect to report a modest operating profit in the full year ending 30 June 2019.
The AGM will be followed by a shareholder presentation. No new material information will be disclosed and a copy of the presentation will be made available on the Company's website www.john-lewis.co.uk.
Enquiries: |
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John Lewis of Hungerford plc | 01235 774300 |
Gary O'Brien, Chairman |
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Smith & Williamson Corporate Finance Limited | 0117 376 2213 |
Katy Birkin, Martyn Fraser |
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