Shoe Zone reveals drop in FY17 profit, revenues down 1.2 percent

In its preliminary results announcement for the 52 weeks to September 30, 2017, Shoe Zone Plc said that profit before tax decreased from 10.3 million pounds (13.9 million dollars) to 9.5 million pounds (12.8 million dollars), a reduction of 7.3 percent. This, the company said, was primarily due to the impact of foreign exchange resulting from the weaker pound on the cost of imports from the Far East. Earnings per share decreased 7 percent to 15.8p against 16.9p last year, while revenues of 157.8 million pounds (213.3 million dollars) reduced by 1.2 percent compared to 159.8 million pounds (216 million dollars) in the previous year.