North America has impact on results
SuperGroup says the growth comes from three several channels, namely wholesale, retail (up 30.8 % to 172.1 million pounds – 236.5 million euro) and eCommerce. On a like-for-like basis, retail sales still grew 17.2 %.
Pre-tax profits did drop however, from 17.2 million pounds (23.6 million euro) to 11.5 million pounds (15.8 million euro) because of its North American restructuring plan.
That is also why the company points to its underlying pre-tax profit, which grew from 12.5 million pounds (17.2 million euro) to 19.3 million pounds (26.5 million euro). If North America is taken out of the equation, underlying profit even grew 13.6 % to 21.7 million pounds (29.8 million euro).
CEO Euan Sutherland says he is satisfied with the performance in the first 6 months, saying SuperGroup is ready for the important holiday season.
