SuperGroup sales boosted by growing online business
SuperGroup, the owner of clothing retail brand SuperDry, posted a 16.2 per cent rise in revenue for the first half of 2012 covering the 26 weeks to October 28th, according to its interim results published on Wednesday morning.
SuperGroup, the owner of clothing retail brand SuperDry, posted a 16.2 per cent rise in revenue for the first half of 2012 covering the 26 weeks to October 28th, according to its interim results published on Wednesday morning.
The group's gross margin rose by 90 basis points to 56.3% from 55.4% in the coorresponding period last year, while underlying pre-tax profit rose by 13.1% to £14.7m.
Basic earnings per share fell 47.8% to 9.6p from 18.4p in the first half of 2011.
Online sales growing
Growth in online sales helped bolster revenue with more items being sold on the group's increasing number of websites.
Internet sales increased year-on-year by 24%. On a rolling 12-month basis, internet penetration was 10.2% compared to 8.2% in 2011.
The business now operates through 12 overseas websites, eight more than the number in existence in 2011, and has added six sites since the year end. The website in Switzerland is available in the French and German languages. In Canada, it is available in French and English and the group has websites for Spain and Italy. Over the last 12 months the group has sold to more than 100 countries.
Overall, retail revenue was up 26.4%, while like-for-like sales grew 3.9% from 4% in the first half of 2011.
Geographical expansion
The period also included a wave of international expansion with 37 franchises and lixcesed stores opening including the first franchise store in India.
Julian Dunkerton, Chief Executive Officer of SuperGroup, said: "Although the trading environment has remained challenging and volatile, the group's sales performance in the first half of the year has been encouraging. There have been a number of positive factors that have supported this performance but it is clear that the ongoing investment in design and the growing presence of the brand have enhanced sales both in the UK and overseas.
"International sales have again been strong and represent a substantial opportunity as the brand gains acceptance globally.
"During the last six months there has been significant change in the group's management structure as we commit to building a solid platform to support our future growth. Good progress is being made but the full infrastructure upgrades, and the associated benefits, will take a number of years to deliver.
"The economic outlook remains uncertain but I am confident in our strategy and our ability to maximise the opportunities we have in the UK and internationally and deliver our full year profit targets."
MF