LONDON May 11 SuperGroup, the British
company behind the Superdry fashion brand, forecast full-year
profit in line with expectations and said trading in its latest
quarter continued to benefit from the weak pound.
The firm, whose trademark jackets, hooded tops and jogging
bottoms are popular with teenagers and twenty-somethings at home
and overseas, said on Thursday currency changes accounted for
about one third of the annual revenue growth in both its retail
and wholesale channels.
Group revenue for its year to April 29 increased 27.2
percent to 750.6 million pounds ($971.1 million).
Retail sales increased 20.6 percent, while wholesale revenue
was up 42.9 percent, with the firm also benefiting from improved
product ranges and the introduction of new categories.
SuperGroup, which trades from 555 stores globally and also
has an e-commerce business, forecast a 2016-17 underling pretax
profit of 86-87 million pounds, up from the 73.5 million pounds
made in 2015-16.
"We remain confident in the continued delivery of
sustainable revenue and profit growth," said Chief Executive
Shares in SuperGroup, up 31 percent over the last year,
closed Wednesday at 1,651 pence, valuing the business at 1.34
($1 = 0.7729 pounds)
(Reporting by James Davey; editing by Kate Holton)