17th Mar 2016 07:24
LONDON (Alliance News) - Ted Baker PLC on Thursday reported growth in profit in its recently-ended financial year, particularly driven by strong sales growth in North America, and said it has received a positive initial reaction to its spring/summer collections.
The luxury fashion retailer said its pretax profit in the year ended January 30 rose to GBP58.7 million from GBP48.8 million the year before, as revenue grew to GBP456.2 million from GBP387.6 million.
Retail sales increased by 14% in the year to GBP348.4 million, while wholesale sales were up by 34% to GBP107.7 million. Within retail, sales in the UK and Europe grew by 8.9% and by 27% in the US and Canada, while e-commerce sales rose by 46%.
Ted Baker will pay a total dividend of 47.8 pence for the year, up 19% on the 40.3p it paid the year before.
"We are pleased by the initial reaction to our Spring/Summer collections, which has been positive. Trading is in line with our expectations, with the exception of Asia, where, as has been widely reported, the trading environment continues to be challenging. Whilst Asia currently represents a small part of our business at 3.4% of revenue, we remain positive about the long term opportunities to develop the brand in this territory," Ted Baker said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
TED.L