Sales rise at Paul Smith
Paul Smith Group grew its turnover by 3% to £202 million in 2012 as like-for-like retail sales increased from £70.5 million to £73.7 million.
In the year to 30 June 2012, revenue in the UK was £70.2 million, a slight fall on 2011. Revenue in Europe was £75.1 million with £56.8 million coming from the rest of the world.
Pre-tax profit was £34.1 million compared to £31.7 million in the prior year while operating profit dropped from £33.8 million to £31.4 million as the company invested in new head office facilities in Nottingham.
The company, whose majority stakeholder is founder Sir Paul Smith, opened new shops in Amsterdam and Melbourne during the year, as well as a new womenswear shop in Paris after the year-end in December. In addition, the company plans to open a new flagship store in London’s Albemarle Street in Spring 2013
Paul Smith paid a dividend of £3.3 million in the year after a major reduction in 2011.
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