Latest Financial Results

Presentation for the 12 months to 31 January 2016 (pdf)

Preliminary results for the year ended 31 January 2016 (pdf)

French Connection Group PLC

Preliminary Results for the year ended 31 January 2016

French Connection Group PLC ("French Connection" or "the Group") today announces results for its financial year ended 31 January 2016.

Highlights:

  • Underlying operating loss* of £(4.7)m (2015: £(0.8)m) largely due to the disappointing trading performance during the first half of the year but with a significant improvement in the second half
  • Group revenue of £164.2m, down 8.0% on a reduced retail store portfolio, with 13 non-contributing stores closed during the year, and poor LFLs
  • Composite gross margin of 46.3% (2015: 46.7%) reflecting the higher mix of wholesale sales within Group revenue
  • Another very good performance in Licensing with income up to £7.3m (2015: £6.5m)
  • Closing net cash of £14.0m (2015: £23.2m) and no debt
  • Continued stronger performance in the first 6 weeks of the new financial year

Commenting on the results, Stephen Marks, Chairman and Chief Executive said:

“Overall the performance for the year has been disappointing due to the very poor first half but the improvement we have seen during the second half and into the new financial year shows that we are definitely moving in the right direction.

The reaction to this year’s collections has been strong so far showing that we are on track. We are early in the year and have a considerable amount of work to do to take the Group back to profitability although I believe that the actions we have taken to date will go a long way to taking us there.”

*excludes profit/loss on store disposals and closures

Enquiries
Neil Williams   French Connection   +44(0)20 7036 7063
Tom Buchanan   CNC   +44(0)79 7498 2366