John Lewis of Hungerford anticipates 'small' FY pre-tax profits

Retailer John Lewis of Hungerford said on Thursday that its second-half performance had exceeded expectations, with profits now expected to recover the loss recorded by the group in the first half and lead to a "small" full-year pre-tax profit.

John Lewis of Hungerford stated it was "encouraged" by its strong trading performance since reopening stores on 15 April, and as anticipated, it will enter the new financial year with an order book "substantially higher" than in recent years.

The AIM-listed group said the total value of dispatched sales and forward orders for the 2022 trading year stood at £4.7m, up from £2.8m at the same point in the previous two years.

JL highlighted that figure was made up of £2.3m worth of sales recorded to date and £2.4m of forward orders, against which first stage deposits had been received.

As of 1000 BST, John Lewis shares were up 16.90% at 1.23p.