SuperGroup on track for jump in annual profits

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Fashion retailer SuperGroup today said it was poised to deliver a jump in profits of more than 20 per cent for its current financial year after it enjoyed a surge in third-quarter sales.

The owner of the Superdry brand said sales in the 13 weeks to 26 January soared 22.1 per cent to £141.1 million, while margins were supported by the fact that the business did not have to repeat the previous year’s clearance sale on auction website eBay.

Chief executive Julian Dunkerton said: “I am pleased that our ongoing strong sales growth and improved margins mean the business remains on track to deliver profit in line with market expectations.”

City analysts have pencilled in a pre-tax profit of between £61.1m and £65.9m, compared with last year’s figure of £51.8m.