SuperGroup profit up 89pc

Fast-growing fashion retailer SuperGroup posted an 89 percent rise in annual profits and saw room for further growth this year.

SuperGroup, whose Superdry clothes are a favourite of celebrities such as David Beckham and Leonardo DiCaprio, said on Wednesday that it made an underlying pre-tax profit of £50.2m in the year to 1 May.

The company is looking to win back investor confidence after a slump in its shares and gave a confident outlook.

"The group strategy is on track and we see the potential for a year of further growth for the Superdry brand and our business," it said in a statement.

Total sales of the firm's trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 71 per cent to £238m.

SuperGroup was one of 2010's most successful stock market flotations. After listing at 500 pence 16 months ago, its shares rocketed to a high of 1,899 pence in February as it reported a procession of stellar sales figures.

But results in May for the three months to 1 May - its fiscal fourth quarter - showed sales growth slowing to 61 percent from 87 per cent the quarter before, prompting a dramatic reversal in its shares.