collected by :Victor Alphen
Ted Baker PLC (TED.LN) Tuesday announced an 18% height in pretax profit for the fiscal 1st half 2018, citing promoted retail sites & e-commerce sales.
The luxury retailer made a profit of 25.3 mn pounds ($33.3 million) in the 6 months ended Aug. twelve compared by GBP21.5 mn a year earlier.
Revenue promoted 14% to GBP295.7 mn from GBP259.5 million.
Retail discounds grew 14% to GBP217.7 mn largely on the back of e-commerce discounds which gained 44% to GBP42.7 million.
Ted Baker announced an interim dividend of 16.60 pence compared by 14.80 pence final year.
Ted Baker interim profit jumps 18%
In the 28 weeks to twelve August, pre-tax profit rose 17.8% to £25.3m on income of £295.7m, up 14% or 9.5% at constant currency.
In the Britain & Europe, retail discounds rose 11% to £145.6m, or 9.1% at constant currency, When discounds in North US grew 18.8% to £60.7m, or 7.8% at constant currency.
Founder & chief executive Ray Kelvin said: “The Ted Baker brand has continued to perform well & in line by our expectations across all distribution channels.
This perfect performance reflects the Dominance & appeal of the Ted Baker brand, our business model & the passion, creativity & innovation of our universal teams.
“We are dedicated to the long-term development of the Ted Baker brand & are continuing to invest in our infrastructure & people to backing our aftertime growth.
Ted Baker delivers half year income & profit development in spite of tough Britain & America retail markets
PLC ( ) has lifted its interim dividend with 12% after delivering profit & income growth, boosted with store expansion & e-commerce sales.
Group income came to £295.7mln, up 14% on a announced foundation or 9.5% in constant currency, in spite of a tough retail market in the Britain & the US.
Retail sales, involving e-commerce, grew 13.9% or 9.2% in constant currency to £2.17.7mln with development in the Britain & Europe, North US & Asia.
In wholesale, discounds edged up 14.1% or 10.2% in constant currency to £78.0mln, supported with a powerful performance in the Britain & North America.
During the period, the retailer unlocked 2 fresh stores in the US & 1 fresh store in the UK, China & France.