Ted Baker posts sharp profits rise

Click to follow
The Independent Online

Ted Baker said it was "pleased" with early sales of its spring and summer collections, as it grew pre-tax profits by nearly a quarter. The quirky fashion brand, which has a retail, licence and wholesale arm, grew revenues by 14.7 per cent to £187.7m over the year to 29 January, boosted by an increase in selling space.

Robert Breare, the chairman of Ted Baker, said: "We anticipate that 2011 will be a challenging year given the economic outlook, but are pleased by the positive reaction to our spring/summer collections." The group, which operates in regions including Hong Kong and the US, fashioned a 24 per cent rise in pre-tax profits to £24.2m. Ray Kelvin, its chief executive, said "The group's excellent performance is testament to the strength of the Ted Baker brand."