Barbour confident for 2021 despite “significant” Covid-19 impact

Barbour trading update
The company said that one key investment focus will be technology and also enhancing its sustainability credentials
// Barbour remains confident despite the impact of Covid-19
// For the 12 months to the end of April last year, turnover rose 7.8% to £242.8m
// Despite an overall decline, Barbour said its balance sheet remains strong

Barbour has seen its turnover rise by 7.8 per cent to £242.8 million thanks to the consistency of its long-term strategic focus, despite the pandemic.

For the 12 months to the end of April last year, the retailer said the Covid-19 impact was “significant” during the final quarter.

However, its revenues still showed progress, although profit was lower year-on-year.

Gross profit fell to 49.4 per cent from 54.2 per cent, while operating profit fell to £35 million from £38 million.

Net profit dropped to £28.94 million from £31.37 million.

Despite the decline, Barbour said its balance sheet remains strong with cash held in the business rising to £97.4 million from £87.2 million.

This allows it to focus on its long-term investment objectives.

The company said that one key investment focus will be technology and also enhancing its sustainability credentials.

Meanwhile, its Barbour Europe operation that focuses on Germany, Austria, Switzerland and the Benelux region managed to swing from a net loss of £398,000 in the previous year to a profit of £36,000.

Operating profit for the unit was £147,480 after a loss of £308,171 in the previous year.

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