Theo Fennell sparkle little dented by weak Christmas sales

UPMARKET jewellery brand Theo Fennell managed to deliver full-year results in line with last year's figures despite Christmas trading being affected by bad weather.

The company, which has a flagship shop in London's Fulham Road, saw turnover in the year to 31 March dip to 12.5 million from 12.6m with pre-tax losses rising to 550,000 from 350,000.

Theo Fennell, the interim managing director and founder of the business who returned to the board two years ago, said current trading was encouraging. In the 12 weeks to the end of June, like-for-like retail sales have risen by 15 per cent.

"We now have a strategy in place to increase sales and grow the business. Our focus is on the international expansion of the brand, on increasing our wholesale distribution, developing our online sales and continuing to create new and innovative product ranges and collections," said Fennell.

Shares in the firm closed up 9.4 per cent, or 1.88p, at 21.75p

• Womenswear retailer Alexon yesterday said it expected performance for the current year to be hit by a tough retail environment.

The company, whose brands include Ann Harvey, Dash, Eastex, Kaliko and Minuet, said its margins for the 22 weeks to 2 July were slightly down on last year. Shares in Alexon closed down 24.3 per cent, or 2.55p at 7.95p.