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Gloucestershire Business News

Fashion brand expected to reveal big profits rise

One of the most successful ever Gloucestershire-grown companies is expected to reveal a double-digit rise in profits for the year this week.

FTSE 250 fashion firm Superdry is due to announce full-year results on Thursday (June 5) when analysts expect the Cheltenham headquartered business to show an 11 per cent rise in profits.

According to reports the retailer, which famously has its roots back on a market stall where founder Julian Dunkerton sold tee shirts, will publish pre-tax earnings of £144m.

It is thought investors will be looking for some positives in a sector where others are struggling and after a slow start to the year due to cold weather.

Back in May Superdry joined other retailers by revealing a six per cent fall in in-store sales it put down to the weather front which became widely known as the Beast from the East.

However, the firm's May trading statement did also bring some good news. Global revenue was up 22.1 per cent year-on-year, wholesale trade up 29.6 per cent and ecommerce up by 25.8 per cent.

At the time the expectation was underlying full-year profit-before taxation earnings would be in the range of £96.5m to £97.5m - which would represent a further year of double-digit profit growth.

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