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Hackett profits rise by nearly 30%

Menswear retailer Hackett London saw its profits rise to £6.2 million in the year to end March from £4.9 million in the previous year as growth in Europe and the Middle East helped to boost sales.

GENERAL MERCHANDISE

Hackett profits rise by nearly 30%

Turnover increased by 27% to £96 million with retail sales rising by 15% and wholesale turnover up 31% in the year.

Hackett said its wholesale revenues had benefited from growth in Western Europe and the Middle East. New stores opened in the UK at Heathrow Terminal 4 and Canary Wharf had also boosted sales. The company plans to expand further both in the UK and overseas.

In a statement, Hackett said: "Looking forward Hackett aims to maximise the positioning of the brand and to continue global expansion especially in the Far East.

"Retail expansion will also continue across mainland Europe.

"To help achieve the potential of the brand overseas, Hackett will continue to seek business partners in the more challenging markets to bring local expertise and knowledge. Confirmed new territory openings in the next financial year with franchise partners include China, Malaysia and India."

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