Ted Baker posts robust interims

Group revenues at the fashion retailer rose 8.3 per cent to£66.2 million for the 28 weeks to August 11. Pre-tax profits remained unchanged at£7 million, slightly ahead of the retailer’s expectations.

The a 4.1 per cent fall at Ted Baker’s wholesale division, which fell to£20.8 million as anticipated, was compensated by a soaring 15.1 per cent growth in retail sales to£45.4 million. Licence income was up 27.8 per cent to£2.3 million.

The UK and Europe retail division reported a sales increase of 15.8 per cent to£40.6 million.

In an indication of resilient consumer confidence, retail sales for the first seven weeks of the second half were up 12.5 per cent against last year. Wholesale sales fell 5.3 per cent.

Since the end of the period, Ted Baker has opened a store in Dublin and entered into a joint venture with a licence partner in Melbourne Australia. It will open stores in Brighton and Florida in the US in the second half.

Ted Baker founder and chief executive Ray Kelvin said: “The initial response to our autumn/winter collections has been very positive and we remain dedicated to the careful international expansion of the brand, through our multichannel distribution strategy. The board is confident in the outcome for 2007 and looks forward to the future with confidence.”