CHEER FOR INVESTORS
Fashion group Superdry unveils its second special shareholder payout
SUPERDRY SHARES surged as the retailer reported higher sales and its second special shareholder payout in two years despite tough trading conditions.
The company said group revenue rose to £872m in the 12 months to April 28 from £752m a year earlier, aided by a near30 per cent rise in its wholesale division which entered eight new markets over the period.
Online sales meanwhile rose more than a quarter, helping its retail arm log a 9.2 per cent jump in sales. Superdry said the “overall economic backdrop has not been favourable”.
It faced a challenging end to the year amid a rise in online shopping and “adverse weather” conditions in the fourth quarter, which hit business in the UK, Europe and on the American east coast.
But chief executive Euan Sutherland said that Superdry had “another strong year”.
“We have made good progress in delivering our strategy and significantly strengthened our platform and capabilities, while delivering another year of double-digit growth in sales and profitability,” he said.
He added: “Whilst the consumer environment continues to be challenging, the board remain confident that Superdry is a uniquely advantaged, highly cashgenerative business that will continue to deliver sustainable growth for our investors.
“This confidence is demonstrated through our second special dividend in two years of 25p per share in addition to an 11.4 per cent increase in the total ordinary dividend.”
We have made good progress in delivering our strategy. Euan Sutherland, chief executive of Superdry