Dr Martens boosted by strong half year performance
Footwear brand Dr Martens has delivered a strong uplift in sales and profit in its half year results.
In the six months to 30 September, revenue increased by 16% to £369.9 million while per-tax profit surged by 46% to £61.3 million.
Retail revenue recovered strongly after Covid-19 lockdowns to post a rise of 92%.
The company said its regional performance was as expected, with 57% growth in constant currency in the Americas and respective uplifts of 12% in EMEA and 4% in the Asia Pacific region.
Dr Martens took the decision to enter the year with higher inventory levels than usual, which meant that its direct to consumer availability levels have remained relatively high despite ongoing supply chain issues across the globe.
Looking ahead, Dr Martens chief executive Kenny Wilson said: “Our strong first half performance combined with the continued momentum in DTC trading into the second half gives us confidence in achieving market expectations for the full year. I remain hugely excited about the growth potential of the Dr Martens brand.”
