Moss Bros half-year profits flat as sales edge up
Moss Bros has posted broadly flat underlying profits at the half-year mark as the retailer posted a small uplift in overall revenue despite a slump in hire sales.
The menswear specialist posted flat adjusted profit before adoption of IFRS 16 and before tax in the period covering January 27 to July 27, down £0.2m in comparison with a profit of £0.2m in the same period the previous year.
Pre-tax losses widened to £2.7m in the period compared with £1.7m the previous year, which the retailer primarily attributed to an IFRS 16 impact of £1.1m.
Moss Bros revenue rose 1.4% year on year to £65.4m, as store like-for-like sales increased 0.6% and overall like-for-likes rose 2.9%.
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