Danish shoe brand Ecco announced record results for 2011, posting profits before tax of nearly DKK 904m (£101m), representing a growth of 43% on 2010 and the largest in the company’s history.
According to a company statement, net turnover increased by nearly DKK 1bn (£112m), or 16%, to DKK 7.1bn (£793m) in 2011, and equity rose from DKK 2.6bn to DKK 2.9bn (£324m) over the same period.
Markets in Asia and North America showed strong growth, while the European markets were generally affected by the difficult current economic climate.
The results were based in particular on successful new collections, according to the company. “In terms of products, we were spot on with our collections, which were well received all over the world,” said chief operating officer Michael Hauge Sørensen. “This was of vital importance in our emerging strongly from 2011. Ecco will not be resting on its laurels, however. We will continue to develop new exciting products and focus on even better customer service.”
The statement also pointed out that results would have been even better if the company’s factory and tannery in Thailand had not suffered flooding in October 2011.
Ecco’s management expects results for 2012 to show further growth, “based on confirmed new orders for the spring season and early indications for the autumn”.