Brogues walk tall at Church: Shoe firm result up 70% as chain of shops recovers
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Your support makes all the difference.CLASSIC brogues came back into favour last year, helping Church & Co, which manufactures and sells them, to a 70 per cent rise in profits.
The pounds 3.2m profit before tax, up from pounds 1.9m last time, was fuelled by recovery at A Jones, which owns the 100 shoe shops. Its sales rose 12.6 per cent to pounds 33.9m while profits almost trebled to pounds 1.7m.
John Church, chairman, said the results reflected rationalisation during the trough of the recession in 1991 and 1992, as well as the improvement in sales. One new shop was opened, in London, and a further two will be opened next month. Two will be closed.
The group has refurbished six of its stores and said that trading has been encouraging. If these branches continue to be successful, more refurbishments are likely.
France, where the group owns nine stores, slipped into loss due to the downturn in the economy. Belgium and Italy, however, continued to trade profitably and the European operations made money overall. In the US losses widened from pounds 88,000 to pounds 145,000, although the Canadian business cut its deficit.
Earnings per share were 17.4p, up from 12.5p, and the dividend is up 0.5p to 13p, via a 10p final. Church said it intended to return to a twice- covered dividend as soon as possible. The shares gained 12p to 440p.
(Photograph omitted)
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