Signet recordes increased sales in both US and UK markets

Signet Group Plc, witnessed an increase of 1.7% in its first-half net profits which valued at $69.2 million. The comparable figures of last year were $68 million. Also, its sales during the same period scaled higher by 9.2% amounting to $1.6 billion.

Comparing performance of both its important markets, the total sales in the US were up by 7.6% to $1,216.9 million and the like for like sales were up 2.7%. The UK total sales hiked by 4.2% to $384.9 million, and like for like sales were higher by 4.6%. Terry Burman the group’s chief executive, mentioned that, “Against the background of a challenging retail environment in their respective markets, both divisions performed well.”

Burman further added, “Reflecting the wider economic environment, the trading outlook on both sides of the Atlantic remains uncertain and the important Christmas period will, as usual, significantly influence the outcome for the full year.”