Marchpole @ FashionUnited News

Marchpole earnings remain flat

Fashion brand management company Marchpole Holdings has announced 2006 profits before tax of £4.9 million, remaining flat on last year. Operating profit rose to £5.5 million, up from £5.1 million in 2005, while turnover increased to 38.4 million from £31.5 million. “The last year has been one of significant progress for the company and we continue to build for the future,” said executive deputy chairman, Michael Morris. “A major achievement during the year was the acquisition of Moda America LLC, the US licensee for Emanuel Ungaro, which expands our global reach and importantly offsets the termination of the Yves Saint Laurent licence.” Morris, who was recently appointed to his current position, said that Marchpole had “evolved from being a single brand, single country business to a diversified multi-brand international business with strong growth potential”. The company operates through wholly owned subsidiaries in the UK , France , Italy , Asia and the US . Morris also said the company is currently in talks to exclusively distribute both the Jean Charles Castelbaljac and Ungaro ranges to nine Middle Eastern and Gulf states .

www.marchpole.co.uk
29 June 2006

Marchpole chief executive quits

Marchpole has announced the resignation of chief executive Greg Tufnell, who has left to pursue “other business interests”, the company said. The apparel producer and distributor's founder and current executive director, Michael Morris, has been appointed executive deputy chairman. An old hand in the fashion industry, Morris will assume general senior executive duties.

Meanwhile, further management reshuffling has taken place with finance director John Harrison's appointment as executive group finance director. Non-executive chairman Christopher Phillips said the new appointments reflect the “fundamental strategic developments” that have taken place at the company over the past two year. Meanwhile the company said trading continued in line with market expectations.

www.marchpole.co.uk
30 March 2006

Marchpole takes a hit

Marchpole has seen its first half earnings drop as a result of a tough trading environment. The British apparel company – which produces clothes for brands like Yves Saint Laurent and Emanuel Ungaro – reported a drop in operating profits to £1.2 million, compared with £2.7 million last year.
Pre-tax profits for the period amounted to £1.0 million, down from £2.6 million last year, while turnover dropped to £14.9 million from £15.7 million last year.

“On the basis of our current order book and sales projections, we expect the existing business to achieve profits before tax for the full year in excess of last year,” said Chairman Christopher Phillips.
Chief executive Greg Tufnell said: “We continue to invest in our new brands. The forthcoming acquisition of Moda America is part of the development of the business to meet our objective of being a worldwide brand management company.”

Marchpole will continue its expansion and raise its profile in the accessories market during the second half of the year.

www.marchpole.co.uk
17 November 2005

No vote for Marchpole purchase

The British clothing group Marchpole has said that a shareholder vote on the purchase of Moda America will not be necessary due to a change in listing rules. The company said that buying Moda would allow it to launch its Emanuel Ungaro and Ungaro collections in North America and would give it worldwide reach with Moda's infrastructure. The acquisition will also launch the diffusion Emanuel collection in the UK and in Eire from Spring Summer 2007.

“Strategically the acquisition of Moda America LLC is the right stepping stone for Marchpole, and establishes for the Company a strong presence in the significant US market,” said Marchpole chief executive Greg Tufnell in a statement.