Laura Ashley cautious over green shoots

Laura Ashley indicated that there are signs of life on the High Street today when it reported a jump in revenue.

In the three months to the end of May, sales rose 6.9%.

Despite this result, the group says the economy continues to be "challenging and unpredictable", though the board is "cautiously optimistic".

It is slowing its store opening programme to preserve cash.

It has opened one new UK store and three in France, taking its total to 236.

Internet and mail order sales rose 11% in the past 17 weeks.

The shares edged up by 1p to 161⁄2p.