Supergroup ahead at year-end as faux-Japanese fashion flies

14th Jul 2016 08:36

(ShareCast News) - Supergroup, owner of the faux-Japanese fashion brand Superdry, announced full-year results for the 53 weeks to 30 April on Thursday.On a comparable 52-week basis, revenue was up 21.3% to £590.1m, and underlying gross margin improved 60 basis points to 61.5%.Underlying operating margin was 12.6%, down from 13.1%, though Supergroup claimed it was 13.6% excluding initial trading losses in key development markets.The company's underlying profit before income tax was up 16.3% to £73.5m, while underlying basic earnings per share were up 21.8% to 72p, from 59.1p.Supergroup's full-year ordinary dividend was 23.2p, representing a 3.1x cover, with a first special dividend of 20p per share as well.On a reported 53-week basis, revenue improved 22.8% to £597.5m with an underlying operating margin of 12.2% and profit before tax of £55.4m."SuperGroup has made significant progress this year, delivering double digit growth in sales and profits, while maintaining momentum against all the elements of our strategy to build a global lifestyle brand," said Supergroup chief executive Euan Sutherland."We are reaching more customers with a greater breadth of product and were delighted with the positive reaction to our womenswear offer and the innovations through Superdry Sport and the premium Idris Elba range."Our commitment to deliver long-term sustainable growth is clearly evidenced by the 75% increase in our mainland European store footprint and our continued investment in infrastructure to support our growth plans," Sutherland added.He said looking forward, and notwithstanding the current economic uncertainty, the company remained well-placed with a healthy committed new store pipeline in multiple geographies.Sutherland said Supergroup was also making good early progress in the US and China, has a clear e-commerce momentum and looks forward to deliver the full-year impact from its product innovation."The group is financially strong and readily able to fund our planned investment programme and our progressive dividend."With high confidence in the brand and our strategy we will pay our first special dividend of 20p per share to all shareholders at the same time as the final ordinary dividend," Sutherland explained.