Fashion retailer Supergroup's profits leap

July 13 - Fast-growing British fashion retailer SuperGroup posted an 89 percent rise in annual profits and saw room for further growth this year.

SuperGroup
Superdry fashion brand (owned by SuperGroup)

SuperGroup, whose Superdry clothes are a favourite of celebrities such as David Beckham and Leonardo DiCaprio, said on Wednesday that it made an underlying pretax profit of 50.2 million pounds ($80.5 million) in the year to May 1.

Its profit was slightly ahead of analysts' average forecast of 49.9 million pounds, according to Thomson Reuters data, and 26.5 million pounds made in 2009-10.

The company is looking to win back investor confidence after a slump in its shares and gave a confident outlook.

"The group strategy is on track and we see the potential for a year of further growth for the Superdry brand and our business," it said in a statement.

Total sales of the firm's trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 71 percent to 238 million pounds.

SuperGroup was one of 2010's most successful stock market flotations. After listing at 500 pence 16 months ago, its shares rocketed to a high of 1,899 pence in February as it reported a procession of stellar sales figures.

But results in May for the three months to May 1 -- its fiscal fourth quarter -- showed sales growth slowing to 61 percent from 87 percent the quarter before, prompting a dramatic reversal in its shares.

The stock closed at 877.5 pence on Tuesday, giving Supergroup a market capitalisation of roughly 700 million pounds.

(Reporting by James Davey; Editing by Sudip Kar-Gupta)

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