Kurt Geiger sees profits leap in 2015
British footwear chain Kurt Geiger has reported a healthy rise in after tax profit in the year ended 31 December 2015.
The footwear and accessories retailer, owned by Cinven Partners LLP since February this year, said turnover grew by 10% in the year to £281.6 million, while EBITDA was £28.9 million, up from £21.2 million a year earlier.
Operating profit for the year doubled to £20.4 million from £10.2 million in 2014.
European private equity firm Cinven bought Kurt Geiger from Sycamore Partners in December 2015. The company has had three owners in the last four years, including a management buyout.
The aspirational brand said last year it continued to invest in new and existing outlets across the UK. It currently has over 70 stores globally and more than 170 concessions within upmarket department stores, such as Harrods and Selfridges. The company also operates a wholesale business and a transactional website.
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