Slim figure for Summers

Published on Wednesday 22 August 2007 12:43

ANN SUMMERS, the lingerie and sex toys retailer, saw its profits almost halve in its latest trading year.

The company, which has an outlet on Princes Street, saw pre-tax profit drop to 1.53 million over the year to June 30, 2006, compared with a profit the previous year of 3.03m. At the operating level, profits were down by a third. Sales were also down, dipping to 110.89m, from 117.4m the year before at the firm's 139 high street outlets.

The group, whose operations cover shops, distribution and party-plan activities, employs around 1650 people and is a subsidiary of Gold Group International.

The Surrey-based group's chief executive Jacqueline Gold has recently said she wants to expand the chain into mainland Europe as competition in the UK increases.

High street retailers such as Boots and Superdrug have recently started selling a limited range of sex aids. In the directors' report, the firm said turnover had fallen "following a reduction in consumer retail spending" over the second half of the year.