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SuperGroup delivers 21.8% surge in pre-tax profits

SuperGroup has reported a 21.8% rise in underlying pre-tax profits to £17.9m in the 26 weeks to October 27 with womenswear and online sales driving growth.

However pre-tax profits including exceptional items such as the set-up of the group’s new retail distribution centre at a cost of £1.6m, and the buy-out of the Spanish distribution agreement at £2.1m, fell 28.8% to £9.9m at the company.

Full price online sales jumped 29.3% while overall ecommerce sales, including its presence on Ebay, climbed 18.7%.

Like-for-like sales for the period increased by 8.1%. Retail revenue was up 19.3% to £117m and wholesale turnover grew by 25% to £75.1m.

Strong revenue growth in both divisions delivered total group revenue of £192.1m, up 21.4% on the same period last year.

SuperGroup opened eight new stores over the half adding 38,000 sq ft to the company’s portfolio. The business also launched 35 new international franchise and licensed stores and opened its first eight Spanish concessions in department store El Cortes Inglés.

Superdry products are now sold globally through stores in 41 countries and 16 international websites.

SuperGroup chief executive Julian Dunkerton said: “The product developments across the two most recent seasons, in particular in womenswear, have helped to deliver like-for-like growth. I am also pleased to report that the spring/summer 2014 order book is showing growth of circa 26%, demonstrating the continuing momentum in the wholesale business.”

He added: “Ecommerce continues to thrive and international sales represented a greater proportion of internet sales than the UK, indicating strong global demand for the brand.”

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