Clothing brand Ted Baker today (6 October) reported a jump in net profit for the first half, which it said reflected the continued investment in its brand and the "strength and passion of our team".

For the six months to 13 October, net profit rose 15.7% to GBP6.1m (US$9.4m) as revenue increased 16.6% to GBP102.8. Profit before tax rose 12.7% to GBP8.5m.

The company said retail sales increased 13% on the back of a 6.7% rise in retail square footage. UK and European retail sales climbed 7.8% to GBP69.2m as US retail sales jumped 74% to US$16.7m. Wholesale revenues were up 32.8% to GBP21.6m.

The company is opening its first Tokyo and Beijing stores next year, and revealed plans to open a store on Fifth Avenue, New York.

Ted Baker said the "strong performance" seen in the first half has continued into the second half, although the past few weeks have been affected by unseasonably warm weather.

"As in previous years, results for the full year will be dependent on trading in the important second half and, at this stage, we remain understandably cautious given the uncertain economic environment, although believe that we are well placed to deal with the challenges ahead," said founder and chief executive Ray Kelvin.