TED.L Share News (TED)

London based clothing company Ted Baker said half year pre-tax profit rose 12.7% as it remains cautiously optimistic for the remainder of the year.Pre-tax profit climbed to £8.5m for the 28 weeks ended 13 August 2011 from £7.5m before. Revenue for the period increased 16.6% to £102.8m.The strong performance seen in the first half of 2011 has continued into the second half of the year, although the last few weeks have been affected by unseasonably warm weather, the group said.Ray Kelvin, founder and chief executive of Ted Baker said, "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."Retail sales were up 13.0% on a 6.7% increase in average retail square footage. UK and European retail sales up 7.8% to £69.2m while US retail sales rose 74% to $16.7m.In Asia, it plans to open a store in Tokyo towards the end of this financial year, as well as store in Beijing at the start of the next financial year. Wholesale sales rose 32.8% to £21.6m while licence income climbed 5.5% to £3.1m.Kelvin added, "Our Autumn/Winter collections have been positively received and we look forward to opening our first stores in Tokyo and in Beijing early next year."Ted Baker has also signed a lease for a store on Fifth Avenue, New York to be opened in the middle of next year.Underpinning its confidence in future trading Ted Baker has lifted the interim dividend 13.5% to 7.15p.---cj