Alexon cuts a dash with 75% leap

Fiona Walsh12 April 2012

CLOTHING and footwear group Alexon reported a sparkling set of results, with operating profits for the past year surging by more than 75% from £13.6m to £24.2m.

Chief executive John Osborn said there had been strong performances from the womenswear chain Bay Trading and Style Menswear but Dolcis footwear had a disappointing year, with losses up from £200,000 to £600,000. The footwear chain was hit by discounting to clear slow-selling lines such as boots, where it had significantly overestimated demand. Some improvement is expected this year.

Alexon Brands turned in improved results, with the strongest performances coming from Dash and Minuet which, despite being the group's newest brand, is already making a sizeable contribution to group profitability. Kaliko also did well and the classic Alexon and Eastex names boosted sales on the back of younger, more fashionable extensions to their ranges.

Group sales for the 12 months to 26 January rose 9.7% to £373.6m and the dividend total is raised by 50% to 3p. Current trading is in line with expectations, the strongest performers being Alexon and Kaliko.

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