REPORT_ SuperGroup has reported a strong financial performance for 2014, delivering a 19 percent increase in underlying profit before tax to 62 million pounds (106.3 million dollars). Group revenues went up 19.6 percent to 430.9 million pounds (739.1 million dollars). Underlying earnings per shareof were 58 pounds (99.5 dollars), however basic earnings per share dropped to 34 pounds (58.3 dollars) from 44.7 pounds (76.6 dollars) in 2013.
Company opened around 100,000 square feet of trading space taking the UK and European retail portfolio to 633,000 square feet, which represents a rise of over 18 percent, in-line with guidance. It opened 46 international franchised and licensed stores during the year taking the total to 208. Retail sales grew over 17.7 percent; and like-for-like sales growth increased over 3.2 percent. Wholesale sales increased over23.3 percent in-line with the order books.
Elaborating on the results, Julian Dunkerton, Chief Executive Officer, commented, “We have delivered a solid performance over the past year, with profits up 19 percent, whilst managing the transition to our new distribution centre and the implementation of the merchandising management system. With a strong pipeline of new stores, particularly in mainland Europe, we are well positioned for further profitable growth in the year ahead.”
Looking ahead, with the youth sector marketplace remaining competitive, the group has developed a strong management team and improved infrastructure delivering sales and profit growth that highlight the continuing appeal of the brand. The group will announce its first quarter results on Thursday September 4, 2014.
