Russell & Bromley defies gloom with rise in profit
18/10/2012
The retailer reported a 5.6% rise in turnover from £95m to £101m over the period. Operating costs rose by 8.3% while buying costs, including currency fluctuations, rose by 9.3%.
The UK-based company had settled on a strategy to minimise costs in all parts of the business and to focus on “quality product and excellent customer service” throughout the year.
It added that it remained cautious about the outlook but that it would open further shops “where opportunities arise and where shop rents demanded are not uneconomical”.
It said in a statement: “With the prevailing and future economic environment uncertain, it is difficult to forecast future performance, but with the strong financial position of the company and the expertise and dedication of management and staff we look forward to the future with confidence.”
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