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Boden profits surge 13% in 2010

Home shopping giant Boden like-for-likes grew 5% in first half of the year as it reports a profit surge in 2010.

Pre-tax profits soared 13% to £32.5m last year against sales up 15% at £232.2m.

The retailer’s international business continued to flourish, particularly in Germany and Austria where sales were up 61% last year and over 100,000 new customers were added in those markets.

Boden is eyeing a move across the Channel and is test launching in France this autumn. It plans to expand into further European markets in 2012.

Despite the sales growth in its first six months of 2011, the retailer said the challenging economic conditions were putting pressure on current year profitability. It said customers were “highly sensitive to promotions”.

The retailer is to expand its internet-only lines over the next 12 months, following the success of its online-only womenswear including maternity, workwear and Limited Editions, which chief executive Julian Granville said would help drive profitability.

He said: “The successful launch of internet-only styles without the support of catalogue mailings is particularly promising and will help drive profitability in the longer-term. We will look to expand this area over the course of the next year.”

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