StockMarketWire.com - Gift and car retailer TheWorks.co.uk posted a deeper first-half loss, which it pinned on seasonal factors.

Pre-tax losses for the six months through October amounted to £7.9m, compared to losses of £4.5m on-year.

Revenue grew 15% to £91.5m and the company declared an interim dividend of 1.2p per share.

'As in previous years, the group reported a loss in the first half due to the seasonal nature of the business,' it said.

In the 11 weeks through to 13 January, like-for-like sales grew 4.5%, which the company said 'continued its sales momentum into the Christmas trading period'.

Chief executive Kevin Keaney said the company had reported a 'strong maiden set of interim results'.

'In 2019 our focus will be on introducing our unique multi-channel value proposition to even more customers by expanding our store portfolio and our online offer whilst remaining flexible and nimble traders whatever the economic environment may be.'




At 10:00am: [LON:WRKS] Theworks.co.uk Plc Ord 1p share price was -0.5p at 135.51p



Story provided by StockMarketWire.com