| CATEGORY: SMALL CAPS NEWS SECTOR: GENERAL RETAILERS |
Bright Futures very cautious |
|
Fri 23 Sep 2005
|
LONDON (SHARECAST) - Bright Futures moved into a hefty loss today and warned that it remains “very cautious” going forward.
The company, which makes mobility scooters and stairlifts, said it remains “very cautious about short to medium term growth and trading prospects in a very competitive retail market for high value discretionary items.”
Bright Futures said it would conduct a strategic review, in order to evaluate any opportunities that could significantly increase shareholder value.
Pre-tax losses came in at £399,000 for the six months to June compared with a profit of £22,000 a year earlier, on turnover of £1.7m against £2.6m last time. Like-for-like sales fell by 21%.
“Following our exit from the wholesale business, our 16 franchised stores will now buy direct from UK suppliers, rather than the Group, whilst paying us a franchise fee,” said the group.
"Whilst this change will not materially change the franchise profitability, it will decrease future sales figures, which will no longer be reported in our accounts”.
|
|
| |
|
 |
Front Page Stories |
 |
|
