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Shoe Zone Sees FY22 Adj. Pretax Profit Not Less Than £8.5 Mln, Margin Growth; Stock Up

Shares of Shoe Zone plc (SHOE.L) were gaining around 8 percent in the early morning trading in London after the British footwear company said Wednesday that it now expects adjusted profit before tax for fiscal 2022 to be not less than 8.5 million pounds.

In its trading update, the company noted that its business has been trading well since the publication of its interim results in May. The company has seen strong margin improvements and cost savings, in particular as a result of rent reductions and good supply chain management.

The improvement is expected to continue into the fourth quarter to October 2.

In London, Shoe Zone is trading at 166.66 pence, up 7.52 percent.

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