Fitted kitchens supplier John Lewis of Hungerford is starting to see the benefits of past investment in the form of higher levels of customer enquiries, but it has not fed through to revenues yet.
In the six months to December 2018, revenues fell from £4.75m to £3.67mand the company swung from a pre-tax profit of £238,000 to a loss of £335,000, even though overheads were reduced. This was still an improvement on the six months to June 2018.
Trade debtors were higher, and cash was £479,000 at the end of 2018, although that was offset by loans of £535,000.
Management believes that it could recover the interim loss in the second half. Sales and the forward order book for the second half total £5m, including further development of the bedrooms business. Price increases are being put into effect from 1 July.
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