14th Jul 2016 06:26
LONDON (Alliance News) - SuperGroup PLC on Thursday reported a fall in profit in its recently-ended financial year due to it booking higher one-off costs than the prior year, but revenue rose and the clothing store chain announced payment of its first special dividend.
The fashion retailer, which owns the Superdry brand, said pretax profit in the year ended April 30 fell to GBP55.4 million from GBP59.5 million the year before, as it booked exceptional costs of GBP17 million, relating to losses on financial derivatives and the assessment of fair values, compared to GBP3.7 million such costs the year before.
On an underlying basis, which excludes exceptional costs, pretax profit rose to GBP72.4 million from GBP63.2 million, boosted by growth in revenue to GBP597.5 million from GBP486.6 million. SuperGroup said revenue was driven by womenswear, which was its highest growth category of the year, while the newly-launched Superdry Sport and Idris Elba ranges also did well.
SuperGroup will pay a total dividend of 23.2 pence, plus a special dividend of 20p for the year.
"Looking forward, notwithstanding the current economic uncertainty, we remain well placed. We have a healthy committed new store pipeline in multiple geographies; are making good early progress in the USA and China; have clear e-commerce momentum and look forward to delivering the full-year impact from our product innovation. The group is financially strong and readily able to fund our planned investment programme and our progressive dividend," Chief Executive Euan Sutherland said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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