Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Tillman slams ‘inaccurate’ reporting of Jaeger results

Jaeger and Aquascutum chairman Harold Tillman has hit back at recent national press coverage of the company’s financial results as “misleading”.

The group’s annual results for the year ending February 28, 2011 were received badly by most of the mainstream media, which picked up on a £1.4m drop in pre-tax profit.

However, Tillman told Drapers the underlying business remained on track and profitable, with the fall in profits accounted for by some exceptional one-off costs.

He cited the ending of Jaeger’s Japanese licensing deal, worth £1m annually, as one of the key factors. “The licence restricted us going into other territories in Asia. We are negotiating with a number of parties on a new agreement,” said Tillman.

The year since February 2011 had been “tough” and Tillman said “that would show in the next results” to the end of February 2012, but he was confident about the group’s future.

He added that chief executive Belinda Earl had not been in the business since November due to ill health and had now decided to step down to concentrate on her recovery. She will remain a non-executive director and Tillman will resume the executive leadership, with brand and supply chain director Carolyn Springett stepping up as managing director of Jaeger.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.