Lewis - trading statement
Shareholders are advised that the group's financial results for the year ended 31 March 2019 have benefited from the continued turnaround in the performance of the traditional retail brands (Lewis, Best Home and Electric, and Beares) as well as the incorporation of the results of United Furniture Outlets ("UFO") for the full 12 months (compared to two months in the previous year).
The sales performance has been supported by growth in Other Revenue in the second half of the year.
Costs were again tightly contained below the growth in sales while collection rates and debtors' costs continue to reflect an improving trend.
Margins have remained stable and within management's target ranges despite increasing pressure on consumer spending and operating costs over the past year.
These factors have contributed to improved profitability and shareholders are advised that the group anticipates earnings for the year to be as follows:
12 months ended 31 March 2018 Reported and 12 months ended 31 March 2019 Expected range
Earnings per share - 306.8; 368.2 cps – 383.5 cps; 20% to 25% higher
Headline earnings per share - 302.6; 363.1 cps – 378.3 cps; 20% to 25% higher
The group's results for the year ended 31 March 2019 will be released on SENS on Wednesday, 22 May 2019.