Supergroup boss Dunkerton is right to be confident as sales jump by over 20pc
In July, Supergroup boss Julian Dunkerton took great pride in the turnaround he's achieved at the head of the company. "Where there were doubters, now there are none," he said, hailing a "return to form".
Today's results show that he's yet again earned that confidence – as Supergroup's sales for the 26 weeks to 27 October beat analyst estimates.
While consensus forecasts suggested sales of £191.6m, Supergroup have beaten that – although marginally – with revenue rising by 21 per cent to £192.1m.
Profit before tax, is however some £4m lower than the same period last year, down to £9.9m.
Since joining the organisation, Dunkerton has seen Supergroup go from posting successive profit warnings to announcing that it's profitable once again.
Cantor Fitzgerald's Freddie George says that the company "is on track to recover the 'lost ground'" after the disappointment of its last financial year.
The retailer now sells its Superdry products through stores in 41 countries, with growth expected to come from new deals in Germany, Turkey and south east Asia.
Wayne Brown of Canaccord Genuity shares some of Dunkerton's optimism, suggesting that the company's next update, in February, "may well provide the opportunity to upgrade forecasts" further.
