SuperGroup Posts Double-Digit Growth in Full-Year Profit

SuperGroup, a British clothing company that owns the Superdry brand, posted an 18.4% increase in underlying profit before income tax in its 2017 fiscal year driven by an even performance across all of its businesses.
Underlying profit before income tax in the 52 weeks to April 29 totaled 87.0 million pounds ($112.8 million) compared with 72.4 million pounds in the 2016 financial year, the company said on Monday on its website. The company was forced to reveal financial highlights from its earnings report on June 29 after saying a third party might have seen a draft of the earnings statement following “a random theft from an employee.”

In a presentation posted on its website the company said its immediate focus was to open standalone Superdry Sport stores to meet growing demand for technical clothing. Revenue in the 2017 financial year rose 27.4% to 752.0 million pounds, the company said. Comparable sales growth, in stores open for at least a year, was 12.7%, the company said.

By Chris Robinson