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Reuters
Published
Jan 11, 2010
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Jacques Vert first half profit rises; sees challenging second half

By
Reuters
Published
Jan 11, 2010

Jan 11 (Reuters) - Womens' fashion retailer Jacques Vert Plc (JQV.L) said first-half pretax profit more than doubled helped by better performance at its online business, but expects some challenges during the remainder of the year.


Photo: www.jacques-vert.co.uk

"While we are pleased with the performance since the period end, the second half will pose some significant challenges as the fear of higher taxes and the economic outlook may affect consumer spending," the company said in a statement. "In the light of these factors we remain cautious about the remainder of the year."

For the 26 weeks ended Oct. 24, 2009, the company, which has its own web sites and has launched its brands on Debenhams.com and JohnLewis.com, posted pretax profit of 2.9 million pounds ($4.66 million) compared with 1.1 million pounds a year ago.

Sales rose 1.6 percent to 55.8 million pounds at the company, whose brands include Jacques Vert, Windsmoor, Planet and Precis.

Cash at Oct. 24 was up 143 percent at 9.7 million pounds compared with a year ago. Like for like sales in the 10 weeks since Oct. 24 increased by 2.1 percent compared with the previous year, the company said.

Shares of the company were up 13.2 percent at 9.625 pence on the London Stock Exchange at 0817 GMT. ($1=.6218 Pound) (Reporting by Shivani Singh in Bangalore; Editing by Kavita Chandran)

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