Ted Baker half-year profit leaps 50 per cent

3rd Oct 2013 07:09

London-based clothing company Ted Baker revealed a strong set of half-year results, as it entered six new international markets, and said trading in the key second half has been positive across the business.The group, which has defied gloom on UK high street by accelerating development overseas through new stores and concessions, said group revenue jumped 30.9% for the 28 weeks ended August 10th to £155.2m while pre-tax profit surged 49.7% to £11.6m. UK and European retail sales were up 22.6% to £91.6m, US and Canada retail sales climbed 56.8% to £25.4m while Asia retail sales surged 78.6% to £5.0m. E-commerce sales rose 51.6% to £9.4m.Wholesale sales up 33.4% to £33.2m while licence income rose 7.4% to £4.0m.Founder and Chief Executive Ray Kelvin said: "We have been pleased with the group's performance across all distribution channels. The last 12 months have seen Ted Baker enter six new international markets and we have been encouraged by the reaction to the brand and collections in these latest territories."Our results for the full year will, as always, be dependent on the important second half trading period. However, early trading has been positive across the business."Adjusted basic earnings per share rose 20.2% to 20.2p. Underlining its confidence in future trading, the interim dividend has been increased 20.3% to 9.5p.Ted Baker has 341 stores and concessions worldwide, with 178 in the UK, 60 in Europe, 58 in the US and Canada, 40 in the Middle East and Asia and five in Australasia. CJ