Dr Martens posts strong revenue growth
Dr Martens saw its revenue increase by 15% to £773 million in the year to 31 March following a good performance across its markets around the world.
Revenue climbed by 17% in both its EMEA and Americas regions and by 7% in APAC. Growth in China was particularly strong at 46%.
Meanwhile, EBITDA rose by 22% to £224.2 million and adjusted pre-tax profit increased by 34% to £151.4 million.
On a statutory basis, pre-tax profit fell by 30% to £70.9 million after the company incurred £80.5 million worth of exceptional costs related to its IPO.
Kenny Wilson, Dr Martens chief executive, said: ““Our DOCS strategy is delivering strong results. We continue to prioritise selling directly to our consumers, and, with retail severely impacted by Covid-19 restrictions, we focused our efforts on a step-change in ecommerce, achieving revenue growth of 73%, representing 30% of total mix. The investments and improvements we made in our supply chain in recent years, along with our multi-country sourcing model and close supplier relationships allowed us to quickly react to a rapidly changing environment, ensuring minimal disruption and maintaining good availability throughout.”
During the period, Dr Martens continued to invest in its brand and business by increasing its headcount by over 250 people and by opening 18 new stores and a third-party distribution centre.
Looking ahead, Wilson said: “Our product durability and timeless design are rooted in a sustainable, long-term approach, and our brand custodian philosophy continues to guide the decisions we take. This underpins the financial guidance we laid out at the time of the IPO which is unchanged. Whilst the global trading environment remains uncertain, the strength of our iconic global brand means we look to the future with confidence.”
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