Laura Ashley warns again on profits

LASS17After seeing first half profits fall by almost a third, Laura Ashley has warned that full year profits will be ‘materially below market expectations.’

The chain warned that ‘trading conditions have continued to be demanding’ and it will also have to account for a £2.8m property revaluation.
It is due to release its results for the year to 30 June on 23 August.
In February it said half-year profits had fallen from £11m to £7.6m as it was hit by currency changes and the national living wage.