Boden reports 9.6 percent rise in annual pre-tax profit

Online and catalogues clothes retailer Boden witnessed its annual pre-tax profit increase by 9.6 per cent to 26.2 million pounds (34 million dollars) for the year ending December 31 2016. The company also reported a 9 percent rise in its sales to 308.3 million pounds (401 million dollars).

Commenting on the positive trading, Jill Easterbrook, the company's Chief Executive, said in a press statement: “The investment in the business and brand is delivering results and we were very pleased with our performance in 2016. I was delighted to join the Boden team at the beginning of 2017. The first half of this year has started well and has seen continued growth. Our significant investment programme, which will have an impact on future profits, is on track."

The company’s sales in the international markets, specially in the US supported the profit growth despite negative impact of falling pound. The company added that the strong trading has continued in the new fiscal year with first half sales up 8 percent and double-digit sales growth in the UK and Europe.

Led by founder Johnnie Boden and Chief Executive Jill Easterbrook, the company is all set to open is first high-street store on the Kings Road, October this year. The company also recently partnered with John Lewis to open five shop-in-shops inside the department store chain and online marketplace channels were recently launched with Next Label, La Redoute & Zalando; expanding into womenswear with Nordstrom. Boden has also planned investments in a new warehouse and a call centre in Leicester, while refurbishing its head office.

Picture:Boden website