Van Elle has released a trading update firming up numbers for the year ending 30 April 2025. Revenue of £134.0m is 4% down yoy (FY24: £139.5m) and is 2.3% down on Zeus’ previous estimate that had been reduced at the time of the pre-close. Gross margin is broadly flat yoy, against our previous expectation of a small increase. This feeds through to a PBT of £3.5m, down £500k from our previous £4.0m estimate. The delay in residential contracts coming through in H2, weaker trading conditions general ....