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Ted Baker profits climb by over 20%

By Staff Reporter

Published 12/10/2016

Ted Baker said there had been a positive reaction to its autumn/winter range
Ted Baker said there had been a positive reaction to its autumn/winter range

Fashion chain Ted Baker shrugged off tough trading on the high street to hike half-year profits by more than a fifth, but cautioned conditions remain "challenging".

Founder and chief executive Ray Kelvin hailed a strong performance despite difficult trading in all markets as the group posted a 20.5% leap in pre-tax profits to £21.5m for the six months to August 13.

The firm notched up a 13.6% rise in retail sales, up 9.6% with currency movements stripped out, helped by surging online sales in the first half - up 29.7%.

Mr Kelvin said Ted Baker "continues to perform well" since the first half and that the group was pleased with the reaction to its autumn-winter collections.

But the firm warned: "Ongoing external factors impacting trading across our established markets have meant that conditions remain challenging."

Belfast Telegraph

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