STYL Stylo

RNS Number:9445Q
Stylo PLC
08 February 2007

                                  Stylo plc

                         Trading and Financial Update

For immediate release                                            8 February 2007


In the interim statement of 27 September 2006, Stylo plc ("Stylo") referred to 
challenging market conditions. Against that backcloth, Stylo expects to have 
made a modest profit in the second half, despite like for like sales for the 
26 weeks to 27 January 2007 being 4.26% lower than the equivalent period last 
year. Overall, the results for the year to 3 February 2007 are expected to show 
a loss. Good stock management during the season has meant that Stylo had less 
shoes going into the Sale than last year, and good clearance rates mean that 
stock levels are in line with expectations and clean for the new season.

Separately, a valuation of the property portfolio was conducted by Cushman & 
Wakefield as at 31 January 2007. As Stylo has previously adopted the transitional 
arrangements of FRS15 Tangible Fixed Assets, the increased value identified by 
this valuation will not be incorporated in the accounts. If the properties were 
to be included at their valuation, the net assets of the Group would be some 
#30m higher. This positive property uplift mitigates the impact of the trading 
performance referred to above. Stylo's bankers have confirmed their willingness 
to renew the facilities which come to the end of their term in April 2007.

The Board expects to announce its results for the year to 3 February 2007 on 
26 April 2007.

Enquiries:

Michael Ziff                                             Telephone: 01274 617761
Chairman and Chief Executive


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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