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SuperGroup reports profits surge

SuperGroup, owner of the Superdry clothing brand, has reported an 89% rise in annual reports for the 52 weeks to 1 May 2011. Underlying profit before tax was £50.2 million for the year compared to £26.5 million in the previous year.

CITY & CORPORATE

SuperGroup reports profits surge

SuperGroup, owner of the Superdry clothing brand, has reported an 89% rise in annual reports for the 52 weeks to 1 May 2011. Underlying profit before tax was £50.2 million for the year compared to £26.5 million in the previous year.

The group’s full-year pre-tax profit rose from £22.5 million to £47.3 million. Total sales increased by 71% to £238 million.

The group said internet sales trebled in the year and now represent around 8% of group revenue. It also opened 21 new standalone stores during the year, of which three were relocations, increasing the total number of UK stores to 60. It also acquired a lease for the central London flagship store in Regent Street.

SuperGroup had reported consistently high sales figures since its stock market flotation last year. However, in its fourth quarter - the three months to 1 May 2011 - sales slowed to 61% from 87% seen in the previous quarter. At the time, the company admitted that it did not bring out its summer ranges in time to take advantage of the warm spring weather.

Commenting on the annual results Julian Dunkerton, chief executive of SuperGroup Plc, said: “I am pleased to say that we have had a successful year, delivering strong financial results in a challenging retail environment and have made significant progress across a number of key areas.
 
“Our international franchise operation goes from strength to strength and following our acquisition of SuperGroup Europe BVBA in February, we are accelerating our European roll-out.
 
“Our UK store roll-out is firmly on track with the addition of a number of prime locations, including one of London’s most iconic and prestigious stores in Regent Street.
 
“We remain confident in our strategy and in the ongoing potential for the Superdry brand, both at home and internationally.”

 


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