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Jimmy Choo back in the black

Luxury footwear label Jimmy Choo made a net profit of £19.4m compared to a loss of £10.8m in 2015, driven by new store openings and strong growth in Asia.

 

Jimmy Choo

Jimmy Choo

For the year to December 31 the business reported a 6.1% increase in sales to £317.9m following the opening of 13 new shops.

Adjusted EBITDA for the year was up 1.5% to £51m.

Pierre Denis, chief executive of Jimmy Choo said the firm made “excellent progress” in 2015.

“Our teams work hard to deliver products of the highest quality and innovation whilst designs led by our creative director, Sandra Choi, have been warmly received by clients and critics and are a key factor in the growing global appeal of our brand.

He added: “We approach 2016 sensitive to the many challenges facing the sector. Against this background, our teams continue to work hard to execute our growth strategy, without compromising our brand or its luxury position. We will continuously improve our operating efficiency and manage our costs to deliver margin improvement and good cash generation.”

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