Superdry profits rise after ‘strong’ year

Superdry’s group revenue advanced 16.0% to £872m in the year to April 28.

Underlying profit before tax climbed 11.5% to £97m.

At a statutory level, pre-tax profit fell 23% to £65.3m, which the retailer said reflected the fair value movement on forward exchange contracts and impairment of its Berlin Kranzler branch.

Superdry’s retail revenue rose 9.2%, driven by ecommerce revenue ahead by 25.8%. Ecommerce participation was at 29.7%, while store sales were up 3.4%.

Wholesale rose 29.6% over the year, when eight new markets were added.

Chief executive Euan Sutherland said: “Superdry has had another strong year, enhancing our position as a global digital brand with a multichannel approach.

“We have made good progress in delivering our strategy and significantly strengthened our platform and capabilities, while delivering another year of double digit growth in sales and profitability.

“Our focus remains on executing our growth strategy and realising the potential we have identified across products, geographies and channels. In Superdry, we have a brand that stands for quality, design, value for money and relentless innovation.

“Our eight routes to market mean we can continue to tailor by territory and channel, while our innovative approach to digital marketing means we can enhance our relevance to consumers around the world. This is underpinned by our culture of operational excellence, our people and our values.

“Whilst the consumer environment continues to be challenging, the board remain confident that Superdry is a uniquely advantaged, highly cash-generative business that will continue to deliver sustainable growth for our investors.”