Laura Ashley Hit By Forex Losses

Malaysia Star:

Laura Ashley Holdings plc has chalked up a resilient performance against the backdrop of a weak economy, with a pre-tax profit of £1.1mil (RM6.6mil) for the first half ended Aug 1.

The 77% drop in profit was attributed to foreign exchange losses of £5.5mil (RM33mil) due to the pound’s slide against the euro and US dollar.

It declared an interim dividend of 0.25 pence per share, payable on Nov 12.

The interim results were released to the London Stock Exchange yesterday.

Chairman Tan Sri Dr Khoo Kay Peng said the company had once again demonstrated its resilience, outperforming the British market in all its product categories. More.