Fred Perry sees strong 2021 revenues despite late results
British sportswear brand Fred Perry has finally filed its 2021 full year results, revealing profits rose to £55.9 million from £48.7 million the year prior, despite the impacts of the COVID-19 pandemic.
The company, renowned for its polo shirts, filed its 2021 results late due to a compulsory strike-off notice filed by the Registrar of Companies.
Fred Perry’s pre-tax profit stood at £11.7 million, up from £7 million reported for the year prior. Net profit rose to £9.4 million from £5.2 million in 2020. Revenues increased 10.4% year-on-year to £112.4 million thanks to eased restrictions in Q2 and customers returning to its brick-and-mortar stores.
Fred Perry Holdings Limited, the owners of the Fred Perry trademark, Lavenham brands, and George Cox, reported similar figures. George Cox was acquired by the company in early 2021, complementing its substantial revenues.
Reported revenues reached £115.6 million, up from £104.7 million the year prior. Gross profit was up to £56.6 million from £49.7 million. Pre-tax profit stood at £10.4 million, up from £8.3 million, with net profit rising to £8.3 million, up from £6 million in 2020.
This follows the news that the iconic British brand is set to celebrate 70 years of its iconic polo shirt with a free exhibition at the Huth Gallery in London’s Design Museum from 10–19 June 2022.
‘Fred Perry: A British Icon’ will explore the sportswear company’s beginnings in 1950s Britain, and through rare archival material and early prototypes visitors will get to know more about its founder, three-times Wimbledon tennis champion Fred Perry.