ShoeZone's (SHOE) shares jumped 13 per cent on the back of a positive full-year trading update, not to mention news that management expects full-year profits to be ahead of market expectations, and in excess of £11m. That compares with estimates from brokerage finnCap for annual pre-tax profits of £10.1m.
IC TIP:
Buy
at
186p
It follows a particularly strong second half, where revenues grew by 1.8 per cent across both the physical and online channels. A good foreign exchange hedging policy has also allowed for a better margin performance.
