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Byline: ANDREW TURPIN

MOSS BROS, the suits and menswear retailers, has put a roll-out of its Yves St Laurent store format on hold as it warned of "unpredictable" current trading.

Shares in what has been one of the more resilient retailers, sank 14 per cent to a new low yesterday as it revealed half-year profits down 2 per cent.

Moss Replica Maurice Lacroix Bros said a year ago that its pilot Yves St Laurent store, opened 15 months ago in London's Covent Garden, could be rolled out into a chain of 20 to 30 shops at a cost of up to $9 million. But the finance director, Terry Donovan, said that the group was "reviewing its performance". He added: "We are not unhappy with its progress and it has got potential, but we are a cautious company."

Shares in Moss Bros, which were as high as 291.5p in April, sank another 21p, or 14.6 per cent, to 122.5p yesterday after it said like-for-like sales growth, which was 7 per cent last financial year and 5 per cent for the first few weeks of the year beginning 1 February, had slowed significantly.

It was down to 2.3 per cent for the half-year to 1 August and about 2 per cent since then, with some weeks in negative territory, Mr Donovan said.

The chairman, Neil Benson, described the current trading conditions as "fiercely competitive and unpredictable". He said Christmas and New Year would be "critical".

The number of new outlets among its mainstream brands to be opened next year will probably be less, at ten to 12, than this year's 13, of which nine are in the second half. Investment in new stores this year will be $7 million $8 million. The group now has 176 outlets, about seven of them in Scotland, under the Moss Bros, Cecil Gee, Suit Company, Savoy Taylors Guild, Blazer, and Boss banners.

Moss Bros made profits of $5.67 million in the half-year to 1 August, down from $5.79 million in the same period last year. Turnover was up 8 per cent at $66.28 million.

Mr Donovan said with the market "flat" generally, the group was picking up market share, which now stands at 12 to 13 per cent of the suit market, second only to Marks & Spencer on about 15 per cent. He said some of the factors that were helping to underpin suit sales Jacob & Co Replica Watches to some degree by persuading men to dress more smartly included the influence of films such as Lock, Stock and Two Smoking Barrels.

Interim dividend rises 5 per cent to 2.1p per share with earnings per share down to 4.3p from 4.31p.

Gross profit margins fell by a percentage point from their previous 50 per cent or so in the first half of last year. Moss Bros has no borrowings and had about $9.1 million cash at the end of the half year.

The group began a mail-order recently with four pages in the Grattan catalogue, mainly selling casual wear.