French Connection profits up 12%
French Connection lifted half-year profits by 12% to £15.4m (€22.6m) today - despite a “disappointing” performance from its UK retail business.
The fashion chain put the overall improvement in the six months to July 31 down to a strong performance from its wholesale trading business, while the further development of licensed products also helped.
But the company said the UK retail market had been difficult, with profits from stores in the UK and Europe down to £1.9m (€2.8m), compared with the strong first half performance of last year at £4.7m (€6.9m).
In line with comments from other retailers, French Connection said UK trading conditions during August had been “unusually poor”, although the outlook for the remainder of the business continued to be good.
French Connection also dismissed speculation that it was about to ditch its “fcuk” branding, which it said remained an important part of its strategy.
