Business

Saturday 21 October 2017

SuperGroup confident on new ranges as profits rise

SuperGroup posted a 22pc rise in annual profit today and attributed the success to its new lines of clothing, particularly in womenswear.

The British-based company, behind fashion brand Superdry, competes with brands such as Abercrombie & Fitch and Jack Wills in casual clothing.  The firm posted adjusted pretax profit of £52.2m (€902.2m), just beating average market expectations.

Chief Executive Julian Dunkerton said he was pleased by the performance of its 2013 ranges and the early reaction to its 2014 products and remained confident in the prospects for the group.

As previously flagged, revenue for the year to April 28 rose 14.9pc to £360.4m, with like-for-like retail growth - at stores open at least a year - of 5.7pc.

Analysts were expecting the group to report underlying pretax profit of £51.2m, according to a Thomson Reuters poll of 10 brokers.

Reuters

Also in Business