Studio Retail Group PLC - Lancashire-based online retailer - Expects adjusted pretax profit from continuing operations in the 2021 financial year of between GBP48 million and GBP50 million, a 75% increase from GBP27.3 million in the previous year. Trading "exceptionally strong" in the "traditionally quieter" final quarter. Customer base rises 36% to 2.5 million. Expects to release full results for year that ended March 26 towards the end of June.
Company also announces sale of Findel Education Ltd to Endless LLP for GBP30.0 million. Strategic review and formal sale process ends. Studio says focus on pure-play retail business, with strong momentum and improved financial position, will create greater value for shareholders.
Current stock price: 301.32 pence, up 3.9% on Monday
Year-to-date change: up 3.4%
By Ivan Edwards; ivanedwards@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.