LONDON (ShareCast) - Womenswear clothing retailer Jacques Vert said profit for the year will fall below current expectations due to deterioration in trading in the last few weeks.

The group said profit will be between £4m-£4.5m, which is below the current market expectations of £5m.Full year like-for-like sales were 0.5% lower than the previous year.

“In common with a number of its competitors, the group has experienced some deterioration in trading during the past few weeks, which as previously highlighted are among the most important in the Group's financial year,” said the group.

Stock levels have been well controlled and are expected to be lower than at the previous year end, it said.

Cash at the year end is in excess of £2m compared with net debt of £0.9m last year.

Preliminary results will be announced on 8 July 2008.

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