The company saw turnover increase from £16.9 million (US$21.14 million) to £20.6 million (US$25.77 million) in the period but gross profit as a percentage was down from 59.9% to 59.5%.

Meanwhile, the EBITDA result was a loss of £7.3 million (US$9.13 million) compared to a profit of £3.1 million (US$3.88 million) in the previous year and a loss of £5.2 million (US$6.51 million) in the year before.

The company said that Covid-related challenges from 2020 continued into 2021 with stores remaining shut through the first trading period of 2021.

Smythson reported that e-commerce growth seen during the pandemic dropped away in the latest results but its digital growth against the pre-pandemic year was still 30%.

Source: Fashion Network