Upmarket kitchens supplier John Lewis of Hungerford has confirmed that operating profit in the year to August 2014 will be lower than the previous year even though revenues have grown.
Revenues are expected to grow from £6.6m to £7.4m, helped by the new Chiswick showroom. Like-for-like sales were 6% ahead at £6.9m. The Cobham showroom opened at the end of the financial period. Operating profit will be held back by the loss-making Wilmslow concession and investment in new showrooms.
Revenues continued to grow in the latest first quarter. They rose from £1.7m to £2m with like-for-like growth of 6%.
At 1.45p a share, up 0.1p, John Lewis of Hungerford is valued at £2.71m.
The full year figures will be announced in late December.
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