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Profits soar 25% at Ted Baker

Ted Baker has reported a 25.3% increase in pre-tax profits to £48.8m for the year to January 31.

Group revenue rose 20.4% to £387.6m while retail sales climbed 18.4% to £306.9m.

Retail sales in the UK and Europe increased 16.7% to £231.8m during the year, while the US and Canada were up 24.9% to £63.3m.

Wholesale sales soared 28.5% to £80.7m and licence income was up 31.2% to £11.7m.

The business said reaction to its spring range was “very encouraging” and it revealed plans to open the first store dedicated to its licensed products including headphones and homewares in Spitalfields, east London.

Chief executive Ray Kelvin said: “We continue to invest in the brand as we develop in new markets where we see long-term growth. All the while, we remain totally focused on the quality, design and attention to detail which underpins every area of the group.”

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