Dr Martens re­ports rise in full-year sales

Belfast Telegraph - Business Telegraph - - News - BY RAVEN­DER SEM­BHY

DR Martens, which has one store in North­ern Ire­land, has notched up ris­ing full year sales and prof­its af­ter the iconic footwear brand was boosted by its per­for­mance in Europe.

The Bri­tish com­pany, owned by pri­vate eq­uity firm Per­mira, posted a 33% rise in oper­at­ing profit to £50 mil­lion in the year to March 31.

Rev­enue at the chain, which has a store in Belfast’s Corn­mar­ket, rose 20% to £348.6m and like-for­like sales in­creased 7%.

Dr Martens per­formed par­tic­u­larly well in Europe, the Mid­dle East and Africa where rev­enue was up 32% to £155.9m and oper­at­ing profit grew 45% to £24.9m.

Chair­man Paul Ma­son said: “We’ve de­liv­ered an­other set of strong re­sults with broad-based growth across all re­gions and chan­nels and dou­ble-digit rev­enue and EBITDA per­for­mances.

“This, in the con­text of the wider macroe­co­nomic uncer­tainty that ex­ists in a few of our key mar­kets, is tes­ta­ment to both the strength of our brand, our her­itage and con­sumer propo­si­tion and the ex­e­cu­tion of our strat­egy.”

He added: “There is still sig­nif­i­cant scope for growth across our mar­kets.”

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