Strong sales at Ted Baker

Fashion retailer Ted Baker revealed a 14.9 per cent increase in annual revenue while pre-tax and exceptional posts profit rose 11.7 per cent after a strong performance across all of its divisions.

The clothing company, which is planning new stores in London, Fifth Avenue, Toronto, Canada and China later this year, said the new financial year has started well in all of its markets despite the challenging environment.

Profit before tax and exceptional costs rose to £27.1m for the 52 weeks ended 28 January 2012 from £24.2m in 2011. Pre-tax profit was little changed at £24.3m compared to £24.2m before. Revenue increased to £215.6m from £187.7m previously.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

The group, which opened its first store opened in Tokyo and first concession in Seoul said it, "continues to perform well in an uncertain trading environment and we believe we are well placed to deal with the challenges and opportunities ahead. We continue to ensure that our costs and commitments are controlled and in line with trends anticipated for 2012."

"We remain focused on our multi-channel distribution strategy and look forward to the further expansion of the Ted Baker brand in existing and new international markets."

UK and Europe retail sales were up 8.7% to £148.6m while US retail sales gained 69.4% to $34.9m. Wholesale sales increased 18.5% to £41.4m while licence income rose 8.1% to £6.7m.

Ted Baker has proposed final dividend of 16.25p, making the total dividend 23.4p, up 13.6%.

The group's net cash position at the end of the year was £1.8m versus £13.5m in 2011.

cj