LONDON (Alliance News) - Ted Baker PLC Thursday reported further growth in profit and sales in its last financial year, and said it plans to open more stores in the year ahead.
Pretax profit grew 25.3% to GBP48.8 million in the year ended January 31, from GBP38.9 milliona year earlier as revenue grew 20.4% to GBP387.6 million, from GBP321.9 million. It raised its total dividend for the year to 40.3 pence per share from 33.7p.
The fashion retailer has been having a successful few years, as the brand has continued to expand internationally leveraging its British identity, and has kept its strategy of not discounting its goods and by using word of mouth rather than expensive marketing campaigns to promote itself.
"This was another excellent year as we continued to develop Ted Baker as a leading lifestyle brand across global markets and distribution channels," Chief Executive Ray Kelvin said in a statement.
"We continue to invest in the brand as we develop in new markets where we see long term growth. All the while, we remain totally focused on the quality, design and attention to detail which underpins every area of the Group," he added.
The British fashion retailer said it plans to open more stores globally and will continue to develop the online brand in the coming year.
Capital expenditure in the last financial year was GBP25.7 million, up from GBP18.1 a year earlier, due to the opening and refurbishment of stores, investment in new systems and a new e-commerce platform for the US site. It expects to keep capex at the same level in the current year.
Ted Baker shares were up 0.3% at 2,825.00 pence early Thursday, building on the 28% gain it has made over the last 12 months.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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