Fred Perry sales and profits surge on UK, international demand
Fred Perry, the eponymous fashion brand created by three-time Wimbledon champion Fred Perry in the '50s has reported a surge in sales and profits.
The company, headquartered in Clerkenwell and owned by Japan’s Hit Union since 1995, paid its owners a £9.6m dividend after seeing a 6% increase in sales in the year to March 2018.
The brand reversed a decline in sales, which fell 2% in 2017, to make £122.3m in group revenues, up from £115.1m a year earlier. The performance was boosted by a 5.8% increase in sales in the UK and Europe, and a 7.4% rise in other territories.
Fred Perry also said in documents submitted with Companies House that its gross margin percentage has remained in line with prior year as a result of tight controls over the overhead cost base.
Pre-tax profits rose 5.7% to £24.3m and profit for the financial year was up 6.5% to £19.5m.
A company spokesman told the Evening Standard: “We will always take a long-term view over any short-term promotional sales driven opportunities and have always put brand health and real profit above all other measures. As a result, we have produced another year that delivers on those core values.”
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