[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 4 July, 2005, 11:40 GMT 12:40 UK
Land of Leather plans flotation
Land of Leather sofa
Land of Leather says its sales are continuing to increase
Sofa retailer Land of Leather has announced plans to float its shares on the London Stock Exchange.

The firm said the move would give it the financing to almost double its number of outlets across the UK and Ireland over the next six years.

It currently has 67 stores across the British Isles, but wants to increase this to 120 by 2011.

Investment bank Investec has been appointed to handle the flotation. No timetable for the float has been given.

During the year to 3 April, the company had a turnover of 156.6m ($276m), up from 101.6m during the previous 12 months.

Bucking the current downward trend in the retail sector, Land of Leather said sales were continuing to increase into its current financial year.


SEE ALSO:
Spending slowdown hits retailers
03 May 05 |  Business
Trouble ahead for UK retailers
19 May 05 |  Business
High Street trend remains gloomy
19 May 05 |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific