SuperGroup on recovery path with profit rise
The group, whose celebrity fans include royal favourite Pippa Middleton and singer Ed Sheeran, said on Wednesday it made an underlying pretax profit of 14.7 million pounds in the six months to October 28.
That was in line with analysts' expectations and up from 13.0 million pounds made in the same period last year.
SuperGroup said total sales of its trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 16.2 percent to 158.2 million pounds, as the firm started to benefit from strengthened and broader product ranges as well as systems and operational improvements.
Gross margin rose 90 basis points, reflecting falling cotton prices and improved supplier terms.
Sales at UK stores open over a year were up 3.9 percent, while group wholesale sales increased 7.9 percent on a constant currency basis.
In the first six weeks of the second half the group has performed broadly in line with internal expectations and generated positive like-for-like retail sales, it said.
"The economic outlook remains uncertain but I am confident in our strategy and our ability to maximise the opportunities we have in the UK and internationally and deliver our full year profit targets," said Chief Executive Julian Dunkerton.
With Britain facing the prospect of a triple-dip recession, many retailers have been finding the going tough as consumers fret over job security and a squeeze on
Be the first to comment.