Blacks Leisure issues profit warning

outdoor goods retailer Blacks Leisure said it expected full-year results to be below expectations after trading conditions weakened further in the last few weeks.

"The group is experiencing lower than expected sales and has been taking action to manage margins in order to drive sales," it said.

Blacks reiterated that it required additional funding.

It said it was considering other financing options, including strengthening its capital structure.

"Constructive dialogue has been maintained with the group's bankers, Bank of Scotland who continue to be supportive," it added.

Shares in Blacks have lost 88.4 per cent of their value over the last year.