Pentland Group revenues rise 14.2 percent FY’12

REPORT_ Pentland Group saw total revenues rise by 14.2

percent, with the Olympics fuelling growth from sportswear brands such as Speedo. Sales at Pentland Brands, which owns labels such as Berghaus, Canterbury, Mitre, Boxfresh, and Red or Dead, rose 6.8 percent.

The retail division, which includes a 57 percent stake in JD Sports Fashion, saw revenues rise 7.4 percent, excluding revenues from Blacks, which was acquired during the year. This acquisition dragged operating profits down 11.7 percent, while pre-tax profits fell 44.6 percent as a result of exceptional charges relating to the acquisition.

According to Pentland Chief Executive, Andy Rubin, “The business had delivered a record year for brands including Speedo, Lacoste footwear and Boxfresh. From a Pentland Brands perspective, we had a very strong year in 2012, particularly from a UK point of view, where we grew by 18 percent.”

“There’s no doubt the Olympics helped overall, but in summarising 2012 , I’d say it was really starting to deliver on the investments we have put into global growth over the last 10 years,” Rubin added.