The Pentland Group reported 17.3 percent rise in sales in its year ended Dec. 31, to £1.5 billion ($2.3 bn) in 2011, Drapers reports. The gain for the owner of brands such as Speedo, Berghaus and Boxfresh was fueled by a strong performance in international markets.
Operating profit was down 8.2 percent to £101 million ($157.2 mm), which the company attributed to the cost of investments in new markets. Pre-tax profit surged 17.5 percent to £114 million ($177.4 mm).
Retail revenues rose 18 percent to £1.035 billion ($1.6 bn), which includes £122 million ($189.8 mm) from businesses it bought during the year. Pentland Group also has a 57 percent stake in U.K. chain, JD Sports. Revenue from other businesses, such as brands Boxfresh, Kickers and Red or Dead, rose 15 percent to £497 million ($773.4 mm), with record sales achieved from Lacoste and Ted Baker.
Pentland Brand's Chief Executive Andy Rubin told Drapers that the UK was “doing well” for the group, thanks to strong performances from Speedo and footwear from Lacoste and Ted Baker, which achieved record sales for 2011.
"We've had strong growth in Asia and North and South America. China has entered our top 10 markets, and the BRIC markets are starting to be more significant to our business," Rubin stated.
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