December 12, 2012 / 7:16 AM / 5 years ago

SuperGroup on recovery path with profit rise

LONDON, Dec 12 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, posted a 13 percent rise in first-half profit, helping to rebuild management credibility after a string of profit warnings in the previous year.

The group, whose celebrity fans include royal favourite Pippa Middleton and singer Ed Sheeran, said on Wednesday it made an underlying pretax profit of 14.7 million pounds ($23.7 million) in the six months to Oct. 28.

That was in line with analysts’ expectations and up from 13.0 million pounds made in the same period last year.

SuperGroup said total sales of its trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 16.2 percent to 158.2 million pounds, as the firm started to benefit from strengthened and broader product ranges as well as systems and operational improvements.

In the first six weeks of the second half the group has performed broadly in line with internal expectations and generated positive like-for-like retail sales, it said.

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