Alexon upbeat on trading

Fashion retailer Alexon has posted a marginally higher pre-tax profit for the first half in spite of lower stock levels and said that trading since the half year looked promising. There was a 10 per cent fall in revenue at the company, whose brands include Ann Harvey, Eastex and Dash but it reported an adjusted pre-tax profit figure on continuing operations of £950,000, up from £900,000 last year for the 26 weeks ended 31 July. After £9m in exceptional costs in 2009 following the collapse of its Bay Trading subsidiary, Alexon has embarked on a major recovery plan. A large part of this includes a £10m reshaping of its property profile, funded by the sale of stores earlier in the year. The retailer is left with 1,092 concession outlets and 63 stand-alone stores across Europe.