Ted Baker has reported strong growth after releasing its full-year results despite “external challenges” across its expanding global markets.
The fashion brand published a pre-tax profit boost of 4.4% to £63 million for the year to January 28th, as total revenues rose to 16.4% to £531 million.
Online revenue has been credited to healthy overall figures, seeing a 35.1% boost to £72.3 million.
Global expansion efforts also boosted the retailer’s income, with store openings in Beijing and Madrid over the year.
Sales in the UK and Europe saw growth of 10.7% to £279 million, alongside a 28.3% rise in the US and Canada to £103.4 million.
For the next year Ted Baker is in a strong position to endure the increasing Brexit cost pressures, as it extended its hedging investment guarding against currency fluctuations.
It also receives considerable revenue from the US market, currently reeling from the stronger dollar; however it warned that decreasing tourism to the US was starting to affect margins.
Ray Kelvin, chief executive said: "We have continued to trade well and develop despite a backdrop of ongoing external challenges across our global markets.
"This success reflects the strength and appeal of the brand as well as the outstanding quality of our collections."
