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SMCP reports 'record' H1 sales

Sophie Smith
02 August 2022

SMCP, owner of Sandro and Maje, has released its financial results for the first half of 2022, revealing organic sales growth of 21.4%% to £474 million (€565.4 million).

For H1 2022, SMCP also shared the following results:

  • Sandro sales up 21.7% to £223 million (€266.8 million), compared to £177 million in 2021.
  • Maje sales up 18.5% to £187 million (€223.9 million), compared to £153 million in 2021.
  • Adjusted EBIT growth of 75.8%, reaching £37 million (€45.2 million).
  • Net Income of £17 million (€20.7 million).

SMCP highlighted its "strong" performance in Europe, with sales in EMEA up 50.4% to £145 million (€173.4 million). This growth was driven by local demand and progressive recovery of tourism, supported by the second quarter exceeding 2019 level.

The group also generated "stable" digital sales compared to H1 2021, resulting in a digital penetration of 22%, above the pre-pandemic level of 15% in 2019.

Isabelle Guichot, CEO of SMCP, said: “We are very satisfied with our strong achievement over the first half of the year.

"We were able to perform very well in all our regions where local clients spending was above pre-pandemic levels, apart from Asia, where our stores were temporarily closed due to pandemic-related restrictions. This enabled us to reach an all-time H1 sales record.

"Looking forward, while the current geopolitical and macro-economic environment creates some uncertainty, we confirm our 2022 full-year guidance if the situation does not further deteriorate.”

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