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Radley sales rise but profits fall

Radley sales rose 4% to £67.1m in the year to 30 April 2016, but EBITDA fell £0.5m to £5.5m in accounts just filed.

The handbag brand said profits rose in its retail business but fell in its design and manufacturing arm ahead of its sale to private equity firm Bregal Freshstream.

Its Radley retail subsidiary, which runs 33 stores and 41 concessions, increased profits from £1.4 million to £2.5 million on a turnover of £41.1 million.

A spokeswoman for the firm said profits fell because it invested in its online business and international. International sales grew by 12% last year with new market openings in Turkey, Dubai and Thailand, while online sales grew 20%. The company now ships to 47 countries.

Radley is continuing to look for further expansion in Asia and also aims to double its global online sales in the next three years, as it continues to make significant investment in its web presence.




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