Ted Baker drives up FY net profit by 25%
- FY net profit rises 25% to GBP48.8m
- Group revenue up 20.4% to GBP387.6m
- Retail sales increase 18.4% to GBP306.9m
Lifestyle brand business Ted Baker posted another full-year net profit increase thanks to double-digit revenue surges across the business.
UK and Europe retail revenues rose 16.7% to GBP231.8m in the 12 months to 31 January, but were outstripped by a 24.9% surge in US/Canada retail sales to GBP63.3m.
E-commerce sales moved up 58.2% to GBP36.7m, wholesale revenues rose 28.5% to GBP80.7m and licence income increased 31.2% to GBP11.7m.
Hailing “another excellent year” for the business, founder and chief executive Ray Kelvin CBE said: “Our customers’ reaction to our spring/summer collections across markets has been very encouraging and we are excited by our new store openings in the coming months, which include a first store devoted to showcasing our extended licence product range in Spitalfields, London.”
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