British heritage fashion brand Belstaff has reported improved financial performance for 2025, with revenue rising and its pre-tax loss narrowing, although the business remains loss-making.

Turnover increased 3.8 per cent to £56.7m for the year ended 31 December 2025 up from £54.6m the previous year, according to newly filed accounts.

Gross profit increased 8.6 per cent to £16.7m, while gross margin improved to 29.4 per cent compared with 28.1 per cent in 2024. The business attributed the improvement to a continued focus on product margins and inventory optimisation.

Despite the stronger top line and gross margin, Belstaff recorded loss before tax improved to £3.6m from £15.9m in 2024. Belstaff stressed this was helped by a reduction in finance costs.

The UK remained Belstaff’s largest market, generating £32.9m in revenue, broadly flat on the previous year. Sales across the rest of Europe increased to £21.2m from £19.4m, while revenue from the rest of the world fell to £2.6m.

The results cover a period of change for the 100-year-old brand. Belstaff was acquired Castore in August 2025.

At the time, Ashley Reed, the chair of Belstaff, said: “Castore is disrupting the sportswear market and has demonstrated phenomenal growth and resilience in recent years. Having witnessed their journey, we saw a unique opportunity to join forces and accelerate Belstaff’s transformation through shared knowledge and resources.”

Belstaff said its strategy remains focused on strengthening its brand positioning and heritage through a refreshed visual identity, new product categories and technical fabrics.

It is also refurbishing its retail estate in line with a new store concept and reviewing its wholesale network, as it looks to build stronger brand partnerships.

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