September 19, 2017 / 6:23 AM / in 3 months

BRIEF-French Connection says H1 revenue at 68.1 mln stg

Sept 19 (Reuters) - French Connection Group Plc:

* H1 REVENUE FELL 1.6 PERCENT TO 68.1 MILLION STG

* GROWTH IN WHOLESALE WITH REVENUE UP 7.2 pct (UP 2.6 pct AT CONSTANT CURRENCY)

* HY GROUP REVENUE OF £68.1M (2016: £69.2M) DOWN 1.6 pct

* IMPROVED CONTRIBUTION IN RETAIL WITH OPERATING LOSS REDUCED BY 18.3 pct

* REDUCED GROUP OPERATING LOSS BEFORE TAXATION OF £5.7M (2016: £7.9M)

* HY UK/EUROPE RETAIL LFL 2 SALES BROADLY FLAT WITH AN IMPROVED MARGIN RATE DUE TO LOWER LEVELS OF PROMOTIONAL ACTIVITY

* HY CLOSING NET CASH OF £6.7M (2016: £7.7M)

* WORKING WITH GOAL OF RETURNING GROUP TO PROFITABILITY AS SOON AS POSSIBLE

* WE HAVE MADE SIGNIFICANT STEPS TO ACHIEVE THAT IN NEAR FUTURE

* HY OVERALL RETAIL REVENUE DECREASED BY 7.5 pct TO £38.5M IN PERIOD (-8.7 pct AT CONSTANT CURRENCY)

* FOR THE HY, WHOLESALE REVENUE INCREASED 7.2 pct TO £29.6M (2.6 pct AT CONSTANT CURRENCY)

* HY LICENCE INCOME WAS UP 8.3 pct TO £2.6M (6.5 pct AT CONSTANT CURRENCY)

* FRENCH CONNECTION - “HAVE DEFINITELY SEEN POSITIVE MOMENTUM BUILD IN FIRST HALF OF NEW FINANCIAL YEAR WITH IMPROVEMENTS ACROSS ALL DIVISIONS DESPITE DIFFICULT TRADING CONDITIONS” Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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