Jimmy Choo's profits rocket ahead of £900m takeover by Michael Kors

 
Helen Cahill
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Jimmy Choo - Presentation - Milan Fashion Week SS16
Jimmy Choo put itself up for sale in April (Source: Getty)

Jimmy Choo's profits soared in the six months to June as it raced towards a sale of the business to Michael Kors.

The figures

Revenue growth for the six months ended 30 June was 16.5 per cent, with like-for-like sales up 3.5 per cent.

Profit before tax soared 174.2 per cent to £18.1m.

Why it's interesting

Jimmy Choo, shoe designer to the stars, announced in July that Michael Kors had agreed to by the business for £900m (230p per share). Earlier in the year, the US handbag brand had lost out to Coach in its bid to bag Kate Spade.

What Jimmy Choo said

Pierre Denis, chief executive of Jimmy Choo, said: "We are delighted with our performance during the period, having delivered growth in revenue and margins, despite challenging market conditions.

"Our long-term growth strategy is to nurture the brand's unique DNA, to strive for excellence in business execution and to enhance client experience, in order to deliver superior growth and profitability, as well as leveraging the significant investments we have made in the business to date."

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