Overview
- Pre-tax profit fell to £3.3 million in the year to 27 September 2025 from £10.1 million a year earlier.
- The company guided to about £1 million profit for the year to October as early trading undershot forecasts.
- Shares dropped roughly 22% in Tuesday morning trading and are around a five-year low.
- Chairman Charles Smith cited the November 2025 national living wage rise as a material increase to the cost base.
- Store sales declined 10.3% to £113.1 million, with the estate reduced to about 269 shops after 39 closures and 11 openings.