SuperGroup posts profits in Christmas run-up

Superdry owner SuperGroup announced it saw positive growth in like for like sales in the six weeks since October 28. The company stated its sales were up 9.3 percent, compared to 3.9 percent in the previous six months. The company currently operates 81

wholly-owned stores, 71 concessions and five franchises.

SuperGroup said the strong current trading performance meant it was well-positioned ahead of the key festive period. Sales of jackets, gilets and sweatshirts helped drive a 13 percent rise in underlying pre-tax profits to 14.7 million pounds in the six months to October 28.

SuperGroup chief executive Julian Dunkerton said: "Although the trading environment has remained challenging and volatile, the group's sales performance in the first half of the year has been encouraging."

He added: "The economic outlook remains uncertain but I am confident in our strategy and our ability to maximise the opportunities we have in the UK and internationally and deliver our full year profit targets."

The company said group revenues were up 16 percent to 158.2 million pounds in the period as it opened three new stores and closed one store in the UK and Ireland.

It also opened 14 new franchise stores, mainly in the Middle East and Asia, five concessions, of which three were in South Korea and two licensed stores in the US.

Online sales were up 24 percent in the period and the business now operates through 12 overseas websites, including new sites for Switzerland, Canada, Spain and Italy.

Image: Superdry