Laura Ashley reported a 72% plunge in pretax profit to £6.3m, in part due to a change in the accounting period which meant the latest 52-week period compared with a 74-week preceding period.
A poor response to its spring/summer range, a weaker pound, and a drop in the value of its headquarters building in Asia also weighed on results.
Some 22 concessions in Homebase stores were closed after the DIY retailer was acquired by Wesfarmers and three stores closed. While there could be a further, small contraction of stores, the company is quite close to where it wants to be with its estate, chief financial officer Sean Anglim said.
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