Laura Ashley plans to ramp up its tea room and hotels business after the fashion and textile seller’s profits were wiped out last year by tough conditions on the high street and a one-off charge in Singapore.
Sean Anglim, chief financial officer, said it was now looking at the hospitality sector “more seriously” as a means of driving customers back into stores.
Pre-tax profits slumped 98pc to £100,000 for the year to the end of June, as it booked a £4.7m impairment charge after writing down the value of a property sold in Singapore.
