YOUTH fashion retailer SuperGroup, which floated on the London Stock Exchange in March, saw sales soar by 83 per cent to £139m in the year to 2 May.
The company, whose Superdry brand is sported by celebrities including David Beckham, said it expected to make a pre-tax profit of at least £25.7m.
SuperGroup has 43 standalone stores in Britain, 56 concessions in House of Fraser department stores and a wholesale business in 34 countries.
SuperGroup’s retail like-for-like sales increased 17 per cent over the year, while wholesale sales doubled.
Chief executive Julian Dunkerton said: “The figures are excellent and reflect hard work and our love of the company.
“We are the least affected (by the economic climate). Our customers have to look good on a Friday night.”
Dunkerton, along with SuperGroup’s other management team, shared £105m of the £120m sum for the IPO.
SuperGroup’s IPO was the first significant one to succeed in the British retail sector since Mike Ashley’s Sports Direct floated in 2007 and came just a month after budget fashion retailer New Look postponed its offer.
Seymour Pierce analyst Freddie George said: “SuperGroup should achieve further significant earnings growth over the next two years.”
sales rise in the year to 2 May
like for like year-on-year retail sales rise
the value of the company’s IPO