THE revival at Alexon under its new board is taking longer than
expected, chairman John Sadler admitted yesterday.
He announced pre-tax losses of #12m in the year to January 29, just
below the #12.2m loss in the previous 12 months.
Mr Sadler took over in April last year after big City investors forced
out the previous senior executive team.
He said the board had re-
assessed the time-scale of recovery since reporting half-year results.
''We now recognise that the recovery will take longer than expected,''
said Mr Sadler.
However, he noted a sharp reduction in debt from #23m to #10.7m, stock
levels reduced by #11.1m to #23.6m and the launch of the Ann Harvey
brand for the larger woman.
Losses per share were reduced last year to 30.38p from 53.90p.
Shareholders, who received a dividend total of 2.92p per share last
time, will get nothing for last year.
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