News blog

John Lewis of Hungerford

• BY: Andrew Hore |
• POSTED: 17/04/2014 |

For the second year in a row upmarket kitchens supplier John Lewis of Hungerford has made a profit in its weaker first half trading period. 

In the six months to February 2014, revenues grew from £3.07m to £3.57m and profit improved from £35,000 to £66,000.Investment in refurbishment of showrooms paid off during the period. There was also a £105,000 contribution from bedrooms, which made no contribution in the corresponding period.

Net cash was £184,000 at the end of February 2014, although this includes customer deposits and advance payments.

The order book is 18% higher at £4.3m. A Chiswick showroom will open in May and a Cobham showroom could open in July. The last loss-making department store concession is being closed. Management believes that the company can achieve annualised revenues of £10m by 2016 - the current figure is just over £7m.

At 2.63p a share, John Lewis of Hungerford is valued at £4.91m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFApril2014_55.pdf