Jessops boosted by profit focus
Camera retailer Jessops today said it was on a sounder footing after efforts to improve margins helped compensate for a sharp fall in sales.
The firm said revenues in the six months to March 31 fell almost 25% to £134.8m (€171.1m) after it shut 81 stores in the period. Like-for-like sales also dropped 5% in a tough climate, but a sharp improvement in profit margins meant Jessops’ operating loss narrowed to £2.9m (€3.7m) from £6.3m (€7.8m) last year. Bottom-line losses were down to £11.2m (€14.2m) from £24.7m (€31.3m) in 2007.
