London: Laura Ashley PLC, the British clothing retailer known for its floral designs, said Monday that its fiscal first-half profit more than tripled after reorganizing the business.
Net income for the 26 weeks through 28 July rose to 4.2 million pounds (US$8.4 million; €6.8 million) from 1.9 million pounds in the same period a year earlier, the company said in a statement. Sales rose 6.9 percent to 113.9 million pounds (US$227 million; €164.9 million).
"The improved profitability is a result of our successful store realignment program, improved product offering and continued focus on operational efficiency," the company said
The share price gained 4.6 percent to 23 pence (US$0.46; €0.33) on the London Stock Exchange.
