Bertrams revenues drop 7.5% like-for-like

Bertrams revenues drop 7.5% like-for-like

Revenues at Bertrams have fallen 7.5% on a like for like basis, its parent company Smiths News has said.

In a trading statement for the 19 weeks to 9th July, Smiths News said like for like sales had been stronger in its most recent six-week period, which were in line with last year.

The 7.5% drop compares to a like-for-like sales decline of 3% in the six months before 28th February of this year.

Last month, the company bought Dawson Books for £20m in a sale it hopes will be completed by September. At this time, it is hoped staff at Dawson will be integrated into Bertrams, following the results of an OFT investigation and staff consultation.

Smith News Plc said: “The recommended offer for Dawson Holdings PLC announced on 7th June, continues through the offer timetable and is expected to complete by September."

Smiths News revenues declined by 2.8% on a like-for-like basis, but the company benefitted from sales around the royal wedding of Kate Middleton and Prince William in March.

Despite the drop in sales for Bertrams and Smiths News over the 19-week period, Smiths News Group remains on track to deliver growth in pre-tax profits for the year to 31st August, it said.