More super than dry as fashion icon's profits surge

SUPERGROUP, the British firm behind the fashion label Superdry, has trebled annual profits to £26.5 million as it prepares for further expansion both at home and abroad.

The company, which began life as a market stall in Cheltenham before growing into a popular youth label favoured by film stars and celebrities such as Leonardo DiCaprio, beat previous profits guidance by 1 million and smashed last year's haul of 7.9m.

Delivering its results for the 12 months to 2 May yesterday, SuperGroup also unveiled plans to open 20 further stores in the UK this year, starting with an outlet at the Lakeside shopping centre in Essex.

The firm is also planning to expand its womenswear ranges and expects another record season from its wholesaling arm, which sells in 36 countries compared to 27 a year ago. SuperGroup has also opened 14 franchise stores in the three months since it was floated on the London Stock Exchange.

The company said: "The international roll-out has only just begun to realise its true potential and will gain real traction over the coming year as further franchise stores open."

Almost a third of the business was floated in March to fund growth plans - a move that also triggered a huge windfall for its directors including founder Julian Dunkerton.

SuperGroup's shares have jumped more than 80 per cent ahead of the initial float price of 500p, closing at 920p yesterday, up 120p or 15 per cent on the day.

Seymour Pierce analyst Freddie George said: "The main brand, Superdry, remains very fashionable and is clearly differentiated from competitors in a growing part of the market."