| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: GENERAL RETAILERS |
Liberty moves into the black |
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Tue 28 Mar 2006
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LONDON (SHARECAST) - Liberty moved into the black after the luxury department store group sold a number of properties.
The group said the second half continues to be strong as it posted a pre-tax profit of £158,000 for the six months ended 31 December, up from a loss of £2.3m the year before. Store sales remained steady at £19.7m.
The profit "reflects the full impact of last April's £66.5m property sales which enabled us to eradicate Liberty's debt and, consequently, interest charges," the group said in a company statement.
Pre-Christmas trading showed a 5.4% sales increase with the last
full week before Christmas showing a 20.4% sales rise, it said.
"The first half of the year has, considering last Summer's difficult
circumstances, been pleasing," added chairman Richard Balfour-Lynn.
Liberty is recovering from a drop in the number of shoppers after last summer's bombings in London.
The group said it has switched retailing focus to Tudor House on Great Marlborough Street as it leaves the Regent Street premises.
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