Footwear retailer Stylo Plc has an improved trading performance for the first half of the year, but says there is still a significant amount to do to return the business to profitability.

Pre-tax loss for the period was £2.4 million compared to a loss of £4.7m in the year-before period.

Sales totalled £106.2m - an increase of 3.4 per cent from £102.7m in the same period last year. Like-for-like sales were flat.

Stylo said sales were boosted by the conversion of 30 Barratts outlets into Priceless stores.

Michael Ziff, chairman and chief executive, said: "At this stage it is very difficult to predict the trading outcome for the full year, particularly as we are so dependent on the sale of autumnal products and Christmas trading."

He added: "The progress made during the year makes us feel confident about opening new stores, and we envisage growth of up to 100 stores over the next couple of years."