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Radley back in profit

Accessories brand Radley is back in the black after several loss-making years, turning a pre-tax loss of £1.7m to a £1.1m profit.

Turnover increased 13% to £38.5m in the year to April 30 with directors saying they were “extremely encouraged” by the turnaround.

Total company sales increased 8% to £64.3m.

Chief executive Xavier Simonet said: “We saw strong growth last year and there are many opportunities for Radley in the UK, Germany and across Asia. Radley is all about Britishness, colour and affordable luxury and we’re rolling out a new store concept, which will grow sales further.”

However, Simonet will leave the business in the next six months to return to Australia with his family.

As reported by Drapers last month the chief executive resigned after two years in the role to become the boss of outdoor brand Kathmandu.

Radley has 33 retail outlets, 39 concessions and a website selling to 47 countries.

@jillgeoghegan

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