Lingerie retailer Bravissimo has revealed a boost in sales and pre-tax profits in its full-year results.
- Pre-tax profits up to £4.7m
- Sales increased by 16.3%
- Four new stores opened over the period
Pre-tax profits more than doubled over the 14 months to October 31 to £4.7m, compared to £2.25m for the 12 month to the end of August 2013. The longer period is due to a change in the retailer’s end of year.
Sales rose by 16.3% to £54m from £46.5m in the previous reporting period. Gross profit margins for the period were up slightly from 56.1% to 57.4%, while a review of the business help to improve efficiency and cut costs by 1.9%.
Bravissimo, which sells lingerie, swimear and nightwear in larger cup sizes, said it opened four new stores over the period and relocated one, which will have a great impact in the coming financial year.
The retailer noted that there “continues to be uncertainty for most retailers” but says that it plans to continue trading into 2016 with “no major plans to change the business activities”.