“My personal view is that we should stay in [Europe],” said Ted Baker founder and chief executive Ray Kelvin today, as he announced another year of double-digit growth in sales and profits for the fashion and lifestyle brand.
“Uncertainty is not something that’s good for consumers,” he said, although he was confident that Ted Baker’s “steady as you go” approach would help it ride out any choppy waters.
“I don’t drink a lot of sugary drinks, so it shouldn’t affect me too much,” he joked about yesterday’s Budget announcements. But when pressed, he said: “Corporation tax is set to come down further and overall I think [the Budget’s] all right.
“It’s quite a sensible Budget and that’s good because we’re quite sensible too.”
The brand reported pre-tax profits grew 20.3% to £58.7m for the year to January 30 on revenues that were up 17.7% to £456.2m.
“You’ve always got winners and losers,” he said. “I think our performance is down to our strategy where we’re not just reliant on one channel.
“We have our own shops, we have a large wholesale business and we get income from licensing things too. It seems to be working.”