FASHION clothing firm SuperGroup celebrated a "return to form" last week as it revealed plans to spend £30million on ramping up expansion in the UK and internationally.
The Cheltenham-based retailer which owns the Superdry, Cult and SurfCo California brands, posted a 22 per cent increase in underlying pre-tax profits to £52.2million for the year to April 28. It came after turnaround efforts including a revamp of womenswear helped like-for-like sales lift 5.7 per cent. The group's bottom line profits rose by 0.8 per cent to £51.8million.
Its performance is a marked recovery on the previous year when the group saw its profits slump 14.7 per cent.
The group retrenched to focus on getting the business back on track, but founder and chief executive Julian Dunkerton hailed "significant opportunities for growth" after a better year for the group. Having added 66,000 square feet of retail space over the past year, it now plans to boost its chain by 80,000 to 100,000 sq ft across the UK and Europe and add about 50 franchised stores internationally.
