The group acknowledged in the interim statement the news that private equity firms Apax and KKK have no intention of making a bid for the company, but said no more on the matter.
The US group reported an 11.9 per cent increase in pre-tax profit and a 7 per cent jump in like-for-like sales. However, in the UK, where Signet operate 590 stores under the H Samuel, Ernest Jones and Leslie Davis fascias, the business came up against a tough market unveiling stayed like-for-likes (H Samuel down 1.6 per cent and Ernest Jones up 1.8 per cent) over the 26 weeks to July 29.
Signet group chief executive Terry Burman said of the performance: 'The UK business has seen a return to growth in total sales. As anticipated gross margin was lower in both markets. The trading environment on both sides of the Atlantic during the important Christmas period will as usual, significantly influence the outcome for the full year.'
Operating loss at the UK division was£3.4 million against a loss of£2.4 million for the first half 2005/2006.
Both Baugur and Jewellery stalwart Gerald Ratner are being touted as possible bid candidates for the UK arm of Signet.
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