Premium brand and retailer Ted Baker delivered an 18% rise in sales for the full-year as profits soared by almost 20%
In the year to January 26, 2013, group revenues grew 18% to £254.5m while profit-before-tax increased 19.2% to £28.9m.
The company’s retail arm posted strong growth with sales rising 19.4% to £208m. The UK and Europe retail division posted an 11.1% rise to £165.1m. Ted Baker’s wholesale arm rose 12.2% to £46.5m, which reflected continued growth in its US wholesale business and a good performance from UK wholesale.
Founder and chief executive Ray Kelvin flagged up the business’ international expansion, with the year seeing Ted Baker open its first stores in Japan, China and Canada and its first concessions in South Korea, Germany and the Netherlands. He said further store and concessions openings are planned across all of its markets for the coming year.
Kelvin added: “This strong performance has been achieved despite a challenging and competitive trading environment and is testament to the strength of the brand, our collections and our people.”
With regards to current trading the company said the brand “continues to perform strongly” and added it is pleased by the initial positive reaction to its spring/summer collections.