Pentland Group plc, today announces results for the year ended 31 December 2015. The full year results reflect a good performance from Pentland Brands as a result of the quality and continued international development of its portfolio of brands in sports, outdoor and fashion, as well as another outstanding performance from JD Sports Fashion plc, in which Pentland Group is the majority shareholder (57%).
+ Total revenue up 10% to £2.4bn (2014: £2.2bn);
+ Revenue from Pentland Brands and other non-retail businesses up 2% to £629m (2014: £618m);
+ Record-breaking sales in Canterbury driven by Rugby World Cup as well as for Ted Baker footwear.
+ Speedo very well positioned with a strong line-up of international athletes competing in Speedo at the Rio 2016 Olympics
+ Record performance from the Retail Division, comprising JD Sports Fashion plc, with revenue up 13% to £1.8bn, mainly through growth in its core JD Sports fascias
+ Group operating profit up 36% to £220m (2014: £161m);
+ Net cash at year end of £300m (2014: £202m);
+ Net assets increased by 17% to £791m (2014: £677m).
+ The figures are prepared on FRS 102 basis before tax, amortisation of intangibles and exceptional items
Pentland Brands performed strongly and the continued development of a global presence in priority markets and with world class retailers has helped achieve record performances for a number of its brands.
Speedo achieved strong sales in 2015 delivering record profits despite international headwinds, including currency challenges. The success of their new competitive range saw growth in many international markets including the USA.
Canterbury, having joined the Pentland Brands portfolio in 2012, is today the world’s leading rugby brand and is worn by the national teams in England, Ireland and Japan. 2015 was a record-breaking year for Canterbury, having capitalised on the 2015 Rugby World Cup. Canterbury is the Official Apparel Partner for the British and Irish Lions 2017 tour of New Zealand.
Ted Baker footwear had another strong year in 2015, achieving double-digit sales growth. UK wholesale growth was driven by success in department stores and e-commerce sales, while performance in the USA was also strong. Success for the brand was recognised at the 2015 Drapers Footwear Awards where Ted Baker won the Men’s Fashion Footwear Brand of the Year and International Footwear Business of the Year.
Kickers enjoyed another year of strong performance in 2015 with campaigns including the Kickhi 40th Anniversary Project, the Kickers x Star Wars and Kickers x Danielle Romeril SS16 collaborations. Kickers was named Kid’s Brand of the Year at the Drapers Footwear Awards 2015.
Berghaus was rewarded for its innovation in 2015 by winning the ISPO award for the Baffin Island jacket, which uses Hydroshell™ fabric technology.
In May/June 2016, Pentland Brands was recognised as one of the Best Workplaces by the Great Place to Work Institute, coming in at 11th place in the Large Companies category in the UK and 16th in Europe.
JD Sports Fashion plc had an exceptional year with operating profits strongly ahead of the prior year. This performance was driven in particular by strong trading in its core Sports fascias which have continued to exploit the buoyant market for branded athletic footwear and apparel across Western Europe.
The Outdoor fascias made encouraging progress in 2015 with Blacks and Millets stores having returned to breakeven, and with margins having improved [in part] through reduced levels of discounting of A/W ranges.
Since the year end, JD has strengthened its presence in the Netherlands, in line with its ambition to increase its European retail footprint, through the acquisition of Amsterdam-based Aktiesport and Perry Sport.
Further information on JD Sports Fashion, and its results for the year ended 31 January 2016, is available at www.jdplc.com.