Ann Summers: FY17 profits surge 180 percent

For the 52 week period ended June 24, 2017, lingerie player Ann Summers has posted a 180 percent jump in profit before tax at 2.9 million pounds (4 million dollars) against 0.9 million pounds (1.2 million dollars) in the previous year.

The company said airing of ITV’s six-part drama series ‘Brief Encounters’ in July 2016 led to a double-digit growth in its Party Plan business. Ann Summers’ turnover increased from 102 million pounds (143 million dollars) to 109 million pounds 153 million dollars) during the year.

“Our Party Plan business has had an exceptional year where we reaped the rewards of the work put in to re-engage our party ambassadors and to drive recruitment. In July 2016 the airing of ITV’s Brief Encounters reminded the nation of their favourite night in, and Party Plan has seen double digit growth since then,” said Ann Summers CEO Jacqueline Gold in a statement filed with Companies House UK.

During the year under review, the company continued with its store refurbishment program and opened three new stores while refitting eight existing ones including a flagship at Marble Arch. In October 2016, Ann Summers re-launched its Knickerbox range inspired by a love of art, fashion and rebellion for the younger customer.

“Our core lingerie and fashion lines continue to be hugely successful both in our channels as well as driving demand from our wholesale partners, including House of Fraser, Asos and Shop Direct,” added Gold.

Picture:Facebook/Ann Summers