Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Profits rocket at Paul Smith

Operating profit at British brand Paul Smith increased by 72% to £5.7m for the year to 30 June 2019, despite challenging market conditions. 

Turnover rose 8.9% to £215m, compared with the same period in 2017/18. This was a result of continued investment in new shops, business systems and promotional activities during the year. 

Retail sales increased by 14% overall and 6% on a like-for-like basis, while ecommerce sales grew by 12% during the year. Direct ecommerce sales currently represent 24% of retail sales, against 23% in 2017/18. 

Wholesale sales to franchise partners, department stores and selected multi-brand shops and online retailers worldwide increased by 4.8% to £79.9m.

During the period, new shops were opened at Bow Lane and the King’s Cross development Coal Drops Yard in London, as well as in Copenhagen, Denmark and Munich, and a new outlet shop in California.

Net assets remained flat at £133m. 

“The directors are pleased to report positive results in the year to 30 June 2019,” said Ashley Long, managing director of Paul Smith “Turnover increased by 9% and operating profits 72% despite challenging market conditions.” 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.