Retailer grew revenues 14.4% to £259.5m, recording PBT up 20.5% to £21.5m
Companies: Ted Baker
Luxury fashion retailer Ted Baker Plc released its interim results this morning, announcing strong performance across all trading channels despite challenging market conditions. The group saw revenue rise 14.4% to £259.5m, PBT rise 20.5% to £21.5m, and EPS rise 24.5% to 37.1p, giving an earnings yield of 1.48%. The group also raised its dividend by 12% to 14.8p.
During the period, retail sales (including e-commerce) rose 13.6%, with good performance in the UK and Europe (+8.5%), and strong performance in North America (+28.7%) and Asia (+15.8%). Its overseas earnings were helped considerably by weakened Sterling.
According to today's announcement, the group continued to expand overseas, with new stores opening in the US, Canada and China. The company also had licensed store openings in Azerbaijan, Egypt, Mexico, South Africa, Taiwan and Vietnam.
City stockbroker Liberum said Ted had continued to "outperform in all weathers", whilst company founder and CEO said the company had performed well despite challenging trading conditions:
'Ted Baker continues to perform well across all distribution channels despite challenging trading conditions across our markets. Our continued growth and development reflects the strength of the Ted Baker brand, our business model and the skill, innovation and passion of our global teams.
We remain firmly focused on the long-term development of the Ted Baker brand and are continuing to invest in our infrastructure and people to support the future growth of our business in both new and existing markets.'
The company's share price opened up 3% this morning, and currently trades on a P/E of 24.