FINANCIAL HIGHLIGHTS
Group revenue up 12.9% to £486.6m (2014: £430.9m)
Group gross margin up 120 basis points to 60.9% (2014: 59.7%)
Underlying profit before tax up 2.0% to £63.2m (2014: £62.0m)
Underlying basic earnings per share of 59.1p (2014: 58.0p)
Basic earnings per share of 56.1p (2014: 34.0p)
Net cash generated from operations of £45.5m (2014: £77.9m)
Year-end net cash position £77.6m (2014: £86.2m)
FY15 OPERATIONAL & STRATEGIC HIGHLIGHTS
Retail revenue up 17.0%; like-for-like sales growth +4.8%
Online participation of retail sales increased to 18.2%
Wholesale revenue increased by 4.9%
Exclusive rights acquired to distribute Superdry products in North America
82,000 sq. ft. of trading space opened increasing the EU retail portfolio to 715,000 sq. ft. (+13.0%)
28 new international franchised and licenced stores taking the total to 221 stores
FY16 TRADING UPDATE
The Group has maintained the sales momentum achieved in the second half of the last financial year. Reflecting our continued store opening programme, total Retail revenues increased in the 10 week period by 34.5% year on year, with Retail like-for-like sales growth of +20.3% (2014: -4.9%).
This performance is against weak comparatives last year and falls within our lowest volume quarter. With strengthening comparatives in the balance of the year, we currently expect to deliver underlying profit in FY16 within the range of analyst expectations.
Euan Sutherland, Chief Executive Officer, commented:
"Despite a challenging start to FY15 the business made good progress in the second half of the year, delivering healthy sales growth, developing our infrastructure and continuing to advance our product range as we incorporate extensive customer insight into our design process.
The past year has seen substantial progress in building Superdry globally with continued expansion of our owned retail presence in Europe and the buy-back of the US licence. The joint venture in China with Trendy International Group, announced today, together with an extensive pipeline of new stores in our targeted European markets and continued momentum in e-commerce, provides confidence of continued long-term growth."
