UK: Slimma profit up despite reduced sales
Ladies' wear business Slimma has reported a rise in profit for the year ended September 2005, but said sales had fallen during the year as it exits the private-label sector.
Full-year profit grew to GBP1m (US$1.74m) compared to £0.9m previously. Turnover slipped to £23.19m from £25.93 the year before.
The company expects this year's sales to comprise 92% of sales from its brands.
Slimma said earlier in the year it was shutting down its private-label business in order to concentrate on its own brands. Its private-label has been continuously damaged by heightening rivalry on the high-street.
The company has been building up its portfolio with the purchase of upmarket lingerie brand Beau Bra in July and dress maker Cattiva in August last year.
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