Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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French Connection (FCCN)

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Thursday 17 May, 2012

French Connection

Interim Management Statement

RNS Number : 5472D
French Connection Group PLC
17 May 2012


Interim Management Statement


17 May 2012


French Connection Group plc is announcing its Interim Management Statement covering the 15 week period to 17 May 2012.


Trading update

Group revenue in the first three months of the financial year was 9.5% below the level achieved in the same period last year, heavily impacted by disappointing sales volumes in the UK/Europe division. 


Revenue in UK/Europe retail was 10% below last year in total and 12% lower on a like-for-like basis.  As highlighted with our full year results, stronger demand for discounted product during the winter sale in the early part of the period has resulted in a lower gross margin.  In the period we launched two new ranges, the Premium Collection and French Connection Home, which have both been well received and have performed well.  We have also seen good growth through our eCommerce channel helped by continued investment in online.


As reported in March we are conducting a thorough review of the UK/Europe retail operation.  We have appointed external specialist advisors to support management in this process and are working quickly towards delivering both short-term gains and long-term strategies to improve the sales densities and gross margins within our retail portfolio.  We also continue to work hard actively managing our retail store portfolio including lease re-negotiations.


The UK/Europe wholesale division has continued to perform in-line with our expectations, although revenue in the period was lower than last year as in-season repeat orders have slowed.  Forward orders for Winter 2012 are currently slightly below the levels at this time last year.


The profit improvement in North America has continued, particularly supported by wholesale revenues in the US.  We achieved an 11% increase in revenue in the region during the period and the net operating result was well ahead of the previous year.  Our international licensed retail partners and brand licensees also continue to perform well and continue to pursue their expansion plans.


Our balance sheet remains strong with £11.3 million of net cash at the end of April 2011 (April 2011: £18.5 million), the reduction reflecting the decline in revenue during the period along with other temporary working capital movements. 



The UK retail market remains particularly challenging and the combination of prevailing consumer caution and ongoing economic difficulties suggests that this will not improve in the second half of the year.  We therefore remain cautious about the outlook for the rest of the financial year.  Given this, it appears unlikely that our profit performance for the full year will meet current market expectations.  Addressing this, the review of our UK/Europe Retail business is well underway and we expect to identify initiatives that can be implemented in the short-term as well as longer-term strategies for improving the performance of the business.




Other than as detailed above in this Interim Management Statement or in the Annual Report published on 17 April 2012, there have been no material events or transactions in the period from 1 February 2012 to 16 May 2012.




Neil Williams/Roy Naismith                       French Connection  +44(0)20 7036 7206

Kim Fletcher/Catriona McDermott                          Brunswick  +44(0)20 7404 5959

This information is provided by RNS
The company news service from the London Stock Exchange

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