Ted Baker Hikes Payout On Strong Growth Despite Challenging Markets

22nd Mar 2018 08:59

LONDON (Alliance News) - Fashion brand Ted Baker PLC hiked its dividend by 12% on Thursday after reporting strong growth in full year revenue and profit despite continued challenging markets.

For the year ended January 27, pretax profit rose 12% to GBP68.8 million from GBP61.3 million the year before. This was after revenue grew 11% to GBP591.7 million from GBP531.0 million the year before.

This was after all parts of the business saw strong revenue growth. Retail sales grew 10% to GBP442.5 million, wholesale sales up 15% to GBP149.2 million and licence income 18% higher at GBP21.4 million.

Ted Baker hiked its final dividend to 43.5 pence per share, up 12% from 38.8 pence. For the full year, the dividend rose 12% to 60.1 pence from 53.6 pence the year before.

"I am pleased to report a year of continued progress in Ted Baker's expansion as a global lifestyle brand," Chief Executive Ray Kelvin said. "The group's good performance demonstrates the strength of the brand as well as the quality and appeal of our collections."

"Our new collections have been received positively and although we anticipate external trading conditions will remain challenging across many of our global markets," Kelvin added, "the strength of our brand and business model mean that we remain well positioned to continue the group's momentum and long-term development. We have a clear strategy for growth across both established and new markets which is underpinned by our controlled, multi-channel distribution as well as the design, quality and attention to detail that are at the heart of everything we do."

Shares in Ted Baker were 3.2% lower at 2,842.00 pence on Thursday.

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