// The Cambridge Satchel Company records a total loss of £1.4m for the year to June 30
// Losses were 74% more than they were in 2016/17
// Gross profit declined 22% to £4.9m, while turnover slid 4% to £11.2m
The Cambridge Satchel Company has recorded a total loss of £1.4 million for the year to June 30, marking the fourth consecutive year the group has posted losses.
The leather goods company which was founded in 2008, said its losses were 74 per cent more than they were in 2016/17, while turnover slid four per cent to £11.2 million, and gross profit declined 22 per cent to £4.9 million.
Meanwhile, the company reported pre-tax losses of £1.5 million, compared to pre-tax losses of £746,000 a year earlier.
The Cambridge Satchel Company has now turned its focus to the Chinese market, where it has established a business network and launched a dedicated website.
“The Chinese market is important to the brand and the directors feel that spending time and money on developing a solid base from which to grow is the correct approach,” The Cambridge Satchel Company founder Julie Deane said.
The company currently has stores in London, Brighton, Cambridge and Edinburgh.
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