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Boden profits surge 16% in 2009

Online and mail order retailer Boden’s pre-tax profits increased 15.9% to £28.7m in 2009 as it focused on cost control.

Sales surged 20.1% to £201.9m at the fashion retailer, representing a 10.8% rise at constant exchange rates.

Current trading has held up, with sales increasing 15% to June 30, with the UK market “strong”.

The retailer said it enjoyed “particularly strong growth” in the German market in 2009, where sales rocketed 104% to £16.7m.

Boden said the US market “continued to grow although conditions remained tough with the consumer downturn”.

Boden also successfully tested the Austrian market and said “further European markets” will be tested in 2011.

It remains “cautious” in regards to the economic environment, rising product costs and the VAT rise in January.

Boden chief executive Julian Granville said:  “Given the volatile economic environment over the last year we are very pleased with our strong performance. Our customer base continues to expand and we now have over a million loyal customers world-wide.

“The UK business continues to grow well. We are pleased with our international expansion to date, particularly our business in Germany which has more than doubled in 2009. We are looking forward to testing other European markets next year.

“Whilst we remain cautious about the current economic and retail environment, the management are confident that Boden is a strong and robust business and a brand that will continue to grow.”

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