Bumper sales for Laura Ashley
Strong sales of home accessories lit up Laura Ashley's half-year results, as profits jumped by 15 per cent to £8.5 million.
The home furnishings group, which employs hundreds of people in Mid Wales, said it was pleased with its performance after shares jumped by nine per cent on the back of the results.
Total revenue in the first half clocked in at £144 million, after a 1.2 per cent rise in like-for-like sales, but in the first five weeks of the second half sales have accelerated, rising by eight per cent.
In the decorating division, which employs 200 people at its factory in Newtown making the likes of paint, made-to-measure blinds and curtains and wallpaper, sales grew by 0.8 per cent, or 1.3 per cent on a like-for-like basis.
"Decorating lies at the heart of the business," the company said in a statement. "Our signature designs, colours and prints are both the foundation and inspiration for the Laura Ashley home furnishing style."
Laura Ashley has 208 stores including in Newtown, Telford and Shrewsbury, which was one of the first three towns in which it opened after its launch in 1968.
As well as its factory in Newtown, it also employs 400 people in the area in its national distribution centre, as well as in finance, IT and other functions.
In home accessories, which includes lighting, bed linen, rugs and cushions, Laura Ashley said sales in the six month period significantly outperformed the market with a rise of 4.3 per cent on a like-for-like basis.
The statement added: "Our star performers in this category were lighting and our increasingly popular gifts and accessories ranges. The strength of this category lies in its diversity, quality and how it complements our decorating themes."
