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Operating profit soars 277% at Kurt Geiger

Premium footwear retailer Kurt Geiger has reported a 277.8% increase in operating profit to £11.2m for the year to December 31, 2014, as a sale of the business nears.

Turnover for the year was up 15.4% to £251.8m, while gross profit increased by 15% to £133m.

The high street chain, which completed a management buyout in April 2014, reported a 42% increase in EBITDA to £21.3m.

Employee numbers in the UK increased from 1,775 to 1,805 during the period.

Kurt Geiger’s management and their backers at US private equity firm Sycamore Partners hired bankers at Goldman Sachs earlier this year to explore a sale of part or all of the business.

The former owner of Jimmy Choo private equity firm Lion Capital is the latest firm rumoured to be exploring a £250m takeover of the high street chain.

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