Clothing manufacturer Superdry (LON:SDRY) has reported that group revenues climbed by 16% to £872 million for the year ended 28th April, with the improvement being driven by strong growth in wholesale and online channels. Despite this, statutory profits before tax dropped by 23% to £65.3 million due to impairments on a Berlin store and the movement of forward exchange contracts. Guidance for the current financial year has been left unchanged.
Strong cash generation has led the board to propose the payment of a special dividend of 25p on top of an 11.4% improvement in the full year dividend. Chief Executive Euan Sutherland said the move demonstrated their faith in the business, stating: “Whilst the consumer environment continues to be challenging, the Board remain confident that Superdry is a uniquely advantaged, highly cash-generative business that will continue to deliver sustainable growth for our investors“. Shares in the business climbed 7.87% to 1,261p (as at 11:45 BST).