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Company snap: Abbeycrest results live up to expectations

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    Date: Friday 24 Jan 2003

    LONDON (ShareCast) - Jewellery manufacturer and distributor Abbeycrest, said that trading over the Christmas period matched expectations, as it re-organised its main subsidiary G & A.

    The group, which sells jewellery to Argos and Asda said turnover increased by 2.1% over the four months ended 31 December 2002, compared with the same period last year.

    The overhaul at G&A, to curb costs, includes more efficient stock buying and forecasting and the disposal of excess stocks, the company said.

    It added that the restructuring has also resulted in a number of redundancies at its Birmingham manufacturing plant.

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