Ted Baker posts strong interim results

British designer clothing brand Ted Baker has posted strong

first-half results with a 16.6% increase in Group revenue for the 28 week period ended August 13, 2011, compared to the same period last year. Retail sales for the period were 13.0% above the same period last year and average retail square footage rose by 6.7%.

The fashion retailer’s results have been led by growth in its overseas business, with US retail sales up 74.0% to $16.7m, as well as new stores opening in Paris and Hong Kong. For the 28 weeks ended August 13, pre-tax profit rose to 8.5 million pounds from 7.5 million pounds last year. The interim dividend has raised 13.5% to 7.15p.

Commenting on trading, Ray Kelvin, Founder and Chief Executive, said, “Ted Baker has delivered a strong performance during the first half of 2011 reflecting the continued investment in our brand and the strength and passion of our team.

Our Autumn/Winter collections have been positively received and we look forward to opening our first stores in Tokyo and in Beijing early next year. We are also excited to announce that we have signed a lease for a store on the internationally renowned Fifth Avenue, New York to be opened in the middle of next year.”

Ted Baker operates stores and concessions across the UK, Europe, the US and Hong Kong, as well as online business serving the UK and Europe and a separate site dedicated to the Americas.