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Ted Baker continues to perform well in uncertain environment
25 Mar '11
2 min read
Ted Baker PLC announced Annual results for the 52 weeks ended 29 January 2011.
Commenting, Ray Kelvin, Founder and Chief Executive, said:
“The Group's excellent performance is testament to the strength of the Ted Baker brand, with design, quality and attention to detail at the heart of everything we do. We have continued carefully to expand the brand internationally and, supported by our strong balance sheet, will build on this momentum in 2011, with new store openings in the first half of the year including Paris, Hong Kong and Manchester.
“We have been pleased by the customer response to our Spring/Summer collections, both in the UK and internationally. Whilst the economic outlook for 2011 is uncertain, we have demonstrated in previous years our ability to trade through more difficult times and are confident that we are well placed to continue to do so.
“On behalf of the Board I would like to thank all the team at Ted Baker, without whom this strong performance would not have been possible.”
Chairman's Statement
I am delighted to report a strong performance across the Group, which resulted in a 14.7% increase in Group revenue to £187.7m and a 24.2% increase in profit before tax to £24.2m. This result reflects the strength of the Ted Baker brand and collections and the growing international reach of our multi-channel distribution strategy.
The retail division delivered an increase in revenue of 11.9% to £152.7m on a 7.4% increase in average retail square footage. Trading in the UK was good and we were particularly pleased by the strong improvement in trading in our overseas markets.
Wholesale sales for the Group increased by 28.9% to £35.0m. This was driven by the re-launch of our US wholesale business, under our own management, and a good performance in our UK wholesale business, which included growth in our wholesale export business.
Licence income from our product and territorial licences increased by 13.4% to £6.2m and included a full contribution in the year from our US product licences.
Click here for more details
Commenting, Ray Kelvin, Founder and Chief Executive, said:
“The Group's excellent performance is testament to the strength of the Ted Baker brand, with design, quality and attention to detail at the heart of everything we do. We have continued carefully to expand the brand internationally and, supported by our strong balance sheet, will build on this momentum in 2011, with new store openings in the first half of the year including Paris, Hong Kong and Manchester.
“We have been pleased by the customer response to our Spring/Summer collections, both in the UK and internationally. Whilst the economic outlook for 2011 is uncertain, we have demonstrated in previous years our ability to trade through more difficult times and are confident that we are well placed to continue to do so.
“On behalf of the Board I would like to thank all the team at Ted Baker, without whom this strong performance would not have been possible.”
Chairman's Statement
I am delighted to report a strong performance across the Group, which resulted in a 14.7% increase in Group revenue to £187.7m and a 24.2% increase in profit before tax to £24.2m. This result reflects the strength of the Ted Baker brand and collections and the growing international reach of our multi-channel distribution strategy.
The retail division delivered an increase in revenue of 11.9% to £152.7m on a 7.4% increase in average retail square footage. Trading in the UK was good and we were particularly pleased by the strong improvement in trading in our overseas markets.
Wholesale sales for the Group increased by 28.9% to £35.0m. This was driven by the re-launch of our US wholesale business, under our own management, and a good performance in our UK wholesale business, which included growth in our wholesale export business.
Licence income from our product and territorial licences increased by 13.4% to £6.2m and included a full contribution in the year from our US product licences.
Click here for more details
Ted Baker PLC
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