Trent (TRENT) Q4 97/98 earnings summary

Executive summary

• Strategic pivot from cosmetics toward retail followed the acquisition of Littlewoods International (India) and the integration of Lakme Exports; Westside relaunched in Bangalore on 2 April 1998.

• Retail results remained loss-making as legacy operations focused on clearing stocks; expansion plans aimed to build a larger store network.

Financial highlights

• FY ended 31 March 1998 income from operations was Rs 960.98 lakh versus Rs 1,126.80 lakh; loss after tax widened to Rs 343.32 lakh from Rs 236.10 lakh.

• Total income was Rs 1,065.23 lakh and total expenditure Rs 1,409.58 lakh; loss before extraordinary items was Rs 344.35 lakh, with Rs 1.04 lakh of extraordinary income.

• Figures include Lakme Exports results from 1 January to 31 March 1998 and are not comparable with the prior year.

Outlook and guidance

• Plans called for additional stores in Chennai, Hyderabad and Mumbai by March 1999, with further major Indian cities under consideration.

• Management expected these additions to improve financial results.