Footwear supplier Jacobson Group has reported a 150% increase in pre-tax profit for the full-year to September 30, 2011 driven by a growth in its branded business in international markets.
The owner of footwear brands including Gola Classics, Lotus, Ravel and Frank Wright saw pre-tax profit rise to £2.5m, up from £1m the previous year.
Turnover increased by 15.6% to £69.8m up from £60.4m while operating profit was also up from £3m last financial year to £4.3m in the year to September 30, 2011.
According to Jacobson Group managing director Tony Evans, the majority of the businesses growth during the financial year came from its branded operation, particularly in international markets.
“The UK is obviously still a vital part of our business but big growth is coming from developing our branded business internationally,” he said.
“Brands like Gola and Frank Wright already have a very strong business in Western Europe but there is still scope to grow these in places like the US and Asia.”
However the Jacobson Group remained “cautiously optimistic” about the outlook for the current financial year, he added.
“We have got to be a little bit cautious about this year as the exchange rates, particularly the sterling to euro exchange rate, have worked against us so that might well have an impact,” he said.
Earlier this year Jacobson Group acquired young fashion footwear brand Dolcis from administration and relaunched the brand on a wholesale only basis for spring 13.