Shoe Zone Plc (SHOE.L), a British footwear retailer, on Tuesday reported a decline in pre-tax earnings for the full year, mainly due to the challenging second half trading environment as a result of unseasonal weather conditions, particularly in peak summer, higher container prices, higher depreciation, and increased costs.
For the 12-month period to September 28, 2024, the company posted a pre-tax profit of 10.116 million pounds, lower than 16.182 million pounds, registered for the prior year. Excluding items, profit before tax was 10 million pounds, compared with 16.5 million pounds in 2023.
Net profit stood at 7.417 million pounds, or 16.04 pence per share, compared with 13.220 million pounds, or 27.79 pence per share, a year ago. Profit from operations slipped to 11.320 million pounds from the previous year's 16.750 million pounds.
Depreciation of property, plant, and equipment was 5.907 million pounds, higher than 3.929 million pounds a year ago. Cost of sales moved up to 125.802 million pounds from 124.805 million pounds last year.
Revenue was 161.322 million pounds, down from last year's 165.657 million pounds. Store revenue stood at 126.1 million pounds, lesser than 134.8 million pounds in 2023, while digital revenue was 35.2 million pounds, up 13.9 percent from the prior year.
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