Shoe Zone (AIM:SHOE) – nice set of results from the value footwear retailer
While revenue reduced by 10.8% to £172.9m this reflected the planned closure of a number of temporary stores. The oroduct gross margin strengthened to 61.3% from 59.4% last year.
Profit before tax excluding exceptional items increased by 124% to £11.4m and eps was 18.0p
The cash coffers were boosted with the net operating cash inflow £13m on operating profit of £10.6m. Cash at year end was £9.1m due to a number of pre-ipo…
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