LONDON – Liberty plc, the retail and fabrics company, recorded a net loss of 2.7 million pounds, or $4 million, for the six months to June 30. That compares to a loss of 4.4 million pounds, or $6.5 million, in the same period last year.
The company reported a 17.6 percent rise in revenues to 25.3 million pounds, or $37.6 million, during the period, compared to 21.5 million pounds, or $32 million, a year ago. Dollar figures have been calculated at average exchange rates for the period.
The rise in sales follows a redesign of the company’s Regent Street flagship store, unveiled last February, and efforts to raise Liberty’s profile. The company said collaborations with Apple, MAC Cosmetics and Hermès are all in the pipeline.
The company also recorded a positive operating EBITDA of 30,000 pounds, or $44,700 for the period. Liberty chairman Richard Balfour-Lynn noted it was the first positive EBITDA figure Liberty had recorded in 10 years.
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“We have already demonstrated our ability to deliver solid market progress in difficult market conditions,” Balfour-Lynn stated. “I view the future with a degree of cautious confidence.”