Frasers – Confident In The Face Of Adversity
Frasers Group PLC (LON:FRAS)’s full year organic revenue rose 31.2% to £4.7bn, excluding the impact of exchange rates. This reflected the reopening of stores, which drove growth across all segments bar Rest of World Retail. Profit before tax was up from £8.5m to £366.1m, driven by improved revenue, new FLANNELS stores and growth online in premium lifestyle. This offset a £227m charge relating to the reduction in value of property assets. It also excludes the cost of the Studio Retail Limited acquisition, which is expected to reduce profits before tax by £5-£10m. Q2 2022 hedge fund letters, con...