Luxury lingerie chain Agent Provocateur will this week report a growth in underlying profits of 45%, with its international expansion a reason for growth in the economic downturn.
According to The Sunday Times, Agent Provocateur will report a 12% rise in annual sales. The company’s turnover will be £24.7m for the year to March, up from £22.1m the previous year. Earnings before tax, interest, accounting charges and one off items will see an increase of 45%, up to £1.2m.
Chief executive Garry Hogarth said: “Current trading is strong. The company is in a good place. I am confident for the future.” He added the company’s international expansion had helped beat the economic downturn experienced in Britain.
The lingerie brand, which has 51 stores worldwide, will open two further stores in New York and Beverly Hills next month. America is expected to overtake Britain as the biggest market for the business.