UK's Frasers up after first-half profit jumps
09/12/2021 10:03
** Shares in British sportswear and fashion group FRAS.L
up 2.26% at 723p
** Co posts 61.7% rise in first-half core earnings, driven
by reopening of stores after COVID-19 lockdowns, new Flannels
stores and online growth urn:newsml:reuters.com:*:nL8N2SU1D2
** Co's adjusted pretax profit of 186.8 mln pounds ($246.6
million) for the six months to Oct. 24, up from 115.5 mln a year
earlier
** Group revenue up 23.6% at 2.34 bln pounds; co sees
full-year profit of 300-350 mln pounds
** Co is still cautious on the outlook, given macroeconomic
headwinds on the horizon in the form of cost increases, supply
chain issues and potential squeezes on consumer spending power
** Liberum raises PT to 900p from 850p; says co
well-positioned, despite uncertain environment
** Says H1 performance reflects strong store trading post
reopening, continued online growth and the impact on prior year
of lockdowns
** Stock up 56.6% this year, as of last close
(Reporting By Geetha Panchaksharam)
((geetha.panchaksharam@thomsonreuters.com))