Women's apparel maker Slimma Plc has posted a pre-tax profit of £950,000 for fiscal 2002-03, down from £1.5 million in the previous 12 months.

Sales also fell to £28.52m for the 12-month period, compared to £31.3m recorded in the year prior.

However, chairman Alan Webb said the current fiscal year, which began on October 4, should yield better results.

"Reorganisation is almost complete in the Frank Usher and Slimma Fashion divisions and our latest acquisition, Peter Martin, has made an excellent start," he said.

"Our Slimma-branded mail order division has also received a positive reaction to its spring/summer 2004 range from its key customers."