Church steps out with 11% profit rise

SHARES in Church & Co yesterday rose 10p to 280p as the shoemaker and retailer reported a 11-per-cent increase in profits before tax to pounds 1.5m for the six months to 30 June.

"July and August were very buoyant ... and, provided this continues throughout the autumn ... I believe we can be optimistic about the outcome for 1998," John Church, the chairman, said. Jones, the UK retail company, produced a 7 per cent improvement in profits, the company said.

Last month the group opened a second shop in Covent Garden, London, and openings are scheduled soon for Trafford Park, Manchester, and Oxford. Profits also rose at the UK manufacturing companies Church & Co (Footwear) and Joseph Cheaney & Sons.

The interim dividend has been lifted by 9 per cent, 3.5p to 3.8p.