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Pre-tax profits soar at Henleys

Young fashion business Henleys has reported a leap in pre-tax profits from £65,000 to £4.7m in the year to March 31, 2009.

Figures filed at Companies House showed sales at the business, which has been expanding on the high street with a chain of eponymous stores, rose 33% to £34m.
Ben Luscombe, who founded Henleys in 1996, was awarded a £6.6m bonus during the year, which contrary to reports is yet to be paid out.

However, the business ended the year with assets of £15.3m, including £5.4m cash at bank and in hand, with £9.1m due from debtors and stocks.

Henleys, which operates a significant wholesale business with stockists such as Republic and Bank as well as 14 standalone stores, concessions in House of Fraser,said in a statement: “The directors are confident the group is well positioned to continue its growth in both the UK and international markets over the coming year.”

Since the year end, Henleys said it had “strengthened personnel across the board resulting in continued improvement to revenue streams”.

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