Superdry declares special dividend amid full year double-digit growth

Superdry profit warning

Superdry has announced that it would pay a second special dividend in two years after it delivered double digit growth in sales and profits in its full year report.

For its fiscal year ending April 28, group revenue increased 16 per cent to £872 million, boosted by a 29.6 per cent boost in its wholesale channel.

Superdry’s retail revenue was up 9.2 per cent, boosted by a 25.8 per cent rise in online sales while store revenue was up 3.4 per cent.

Meanwhile, global brand revenue – which Superdry said was a key measure of brand health – jumped 22.1 per cent to £1.6 billion, and underlying profit before tax was up 11.5 per cent at £97 million.

The retailer said underlying basic earnings per share was up 10.8 per cent to 93.6p.

It also announced a full year ordinary dividend of 31.2p per share, up 11.4 per cent, together with special dividend of 25.0p per share.

The British brand stuck to its 2019 forecast for revenue and operating margin growth.

Chief executive Euan Sutherland said Superdry has had “another strong year”

“We have made good progress in delivering our strategy and significantly strengthened our platform and capabilities, while delivering another year of double digit growth in sales and profitability,” he said.

“Our focus remains on executing our growth strategy and realising the potential we have identified across products, geographies and channels.”

He added: “Whilst the consumer environment continues to be challenging, the board remain confident that Superdry is a uniquely advantaged, highly cash-generative business that will continue to deliver sustainable growth for our investors.

“This confidence is demonstrated through our second special dividend in two years of 25p per share in addition to an 11.4 per cent increase in the total ordinary dividend.”

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