- Fashion retailer Quiz posted a deeper underlying annual loss after sales were pummelled by pandemic lockdowns.

At the bottom-line level, Quiz booked a pre-tax profit for the year through March of £6.0 million, but that included a gain on the disposal of a subsidiary placed into administration.

Underlying pre-tax losses amounted to £9.6 million, compared to year-on-year underlying losses of £3.1 million.

Revenue dropped 66% to £39.7 million, down from £118.0 million.

Quiz said it had seen a gradual improvement in sales since the removal of restrictions on large-scale social events. with performance approaching pre-pandemic levels on a like-for-like basis.

Sales of £30.6 million had been generated in five months to 31 August 2021, representing a £17.4 million increase year-on-year.

'With the recovery in revenues experienced to date the group anticipates generating a positive cash flow from operating activities in the year ended 31 March 2022,' Quiz said.

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