French Connection enjoys lift in profits

Fashion chain French Connection today hailed the “robust formula” which has enabled it to overcome tough trading conditions and lift profits.

Fashion chain French Connection today hailed the “robust formula” which has enabled it to overcome tough trading conditions and lift profits.

Chief executive and chairman Stephen Marks said trading across the group remained strong, although the poor economic environment in the United States had provided a drag on the figures.

Across the group, operating profits in the six months to July 31 rose 13% to £10.8m (€17.15m) with turnover ahead 2% at £108.9m (€172.9m).

FC said the progress had continued into the second half of the financial year following the launch of the group’s winter range.

Like-for-like sales in the UK and Europe division, which had been ahead 5.5% in the first half of the year, have surged 7% in the first six weeks of the second half of the financial year.

Mr Marks said: “The business has developed a robust formula that has enabled us to perform extremely well in a highly competitive environment.

“We have had a great start to the second half and I am confident this will continue for the rest of the year.”

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