• H1 profit jumps 32.6% to GBP11.4m
  • Group revenue grows 17.4% to GBP182.2m
  • Online sales surge 48.9% to GBP14m
Ted Bakers online sales surged 48.9% in the first half

Ted Baker's online sales surged 48.9% in the first half

UK lifestyle brand Ted Baker has booked an "enviable" 32.6% increase in first-half net profit, thanks to a surge in online sales and international expansion.

Net profit reached GBP11.4m (US$18.4m) for the 29 weeks to 9 August, compared to GBP8.6m in the same period of the prior year.

Group revenue increased 17.4% to GBP182.2m from GBP155.2m last year. Retail sales, including e-commerce, rose 14.8% to £140m. The UK and Europe recorded growth of 15.1%, while the US and Canada booked a 13.8% gain, and Asia a 16% increase.

During the period, Ted Baker opened new space in the US and Europe, including France and Spain.

Online sales surged 48.9% to GBP14m, accounting for around 10% of the company's retail sales. Wholesale sales jumped 26.8% to GBP42.1m, while licence income was up 37.1% to GBP5.5m.

"Whilst our results for the full year will be dependent on the more weighted second half, we continue to look forward with confidence as we further develop Ted Baker as a leading global lifestyle brand," said founder and chief executive Ray Kelvin.

Conlumino analyst Anusha Couttigane described the group's results as "enviable", adding that its online growth "is a clear indication that the investment the premium fashion label has put into its website is now seeing traction, and sets the company in good stead for a bumper Christmas".