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Alexon profits fall in downturn

Fashion retailer Alexon yesterday posted a fall in first-half adjusted pre-tax profit mainly due to poor consumer confidence and lower demand, and scrapped its interim dividend to conserve cash amid a tough retail environment. For the 26 weeks ended 1 August pre-tax profit before exceptional items fell to £0.9m from £6.9m last year. Revenue decreased 11 per cent to £77.7m, while like-for-like sales were down 12.6 per cent.