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Ted Baker posts strong H1 against tough retail environment

08 Oct '05
2 min read

Clothing designer Ted Baker announced Interim Results for the 28 weeks ended 13 August 2005.

Highlights
- Group revenue up 16.8 percent to £57.2m (2004: £49.0m)
- Retail sales up 16.6 percent to £35.7m (2004: £30.7m)
- Wholesale sales up 17.1 percent to £21.4m (2004: £18.3m)
- Licence income in line with last year at £1.8m (2004: £1.8m)
- Profit before tax increased by 12.4 percent to £6.3m (2004 restated: £5.6m)
- Basic earnings per share up 8.7 percent at 10.0p (2004 restated: 9.2p)
- Interim dividend up 11.4 percent to 3.9p per share (2004: 3.5p per share)
- US expansion progressing well with the successful launch in June of their 'Best in Show' store in Los Angeles, the extension to their New York store and the planned opening of a new store in Dallas in November.
- First Asian territorial licence signed with the Li & Fung group of companies for retail and wholesale distribution in Hong Kong, Macau, China, Taiwan and South Korea.

Commenting, Ray Kelvin, Chief Executive informed that they are pleased to report strong first-half results despite a tough UK retail environment. Both turnover and profits have increased highlighting the continuing appeal of the brand as well as the resilience of their multi-channel distribution strategy. Their expansion into the United States is progressing well with the successful launch of a 'Best in Show' store in Los Angeles in June.

They are delighted to report that therhave signed their first territorial licence in Asia, covering, Hong Kong, Macau, China, Taiwan and South Korea. This represents a significant step in their long-term strategy to develop a global brand.

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