Belstaff manages to reduce net loss despite turnover drop in 2024

Luxury outerwear brand Belstaff International Limited reported its financial results for the year ended December 31, 2024, showing a decline in turnover but a substantial improvement in its balance sheet. Turnover for the year decreased by 5.2 percent to 54.6 million pounds. However, the company successfully reduced its net loss to 15.9 million pounds, an improvement from a 18.3 million pounds loss in the prior year. Crucially, the gross margin percentage rose to 28.1 percent from 25.9 percent.