Ted Baker expected to post further increase in profits

Premium fashion and lifestyle brand Ted Baker is expected to post a further increase in profits when it updates the market on its interim results on Tuesday (10 October).

According to the Mail on Sunday business pages, an analyst at broker Stifel expects the brand to post a 13% increase in profits to £24.3m in the six months to the end of July. The same analyst expects to see a 14% rise in sales to £296m.

The business is also anticipated to report solid progress on its global growth plans having opened dozens of stores around the world, including many outside of Europe.

In the year to 28 January 2017 the business, which was founded 30 years ago by entrepreneur Ray Kelvin, achieved revenues of £531m and a profit before tax of £61.3m.

At the time it reported its annual results Ted Baker had 490 stores and concessions worldwide, comprising 192 in the UK, 98 in Europe, 111 in the US and Canada, 80 in the Middle East, Africa and Asia and nine in Australasia.

The business recently augmented its board with the appointment of two non-executive directors with strong digital experience. Anita Balchandani, a partner at OC&C Consultants, was appointed as non-executive director as well as chairman of the remuneration committee and a member of the audit committee.

Jennifer Roebuck, who is co-founder of events app REVL and who has a background in digital transformation and brand marketing, was appointed non-executive director and member of the audit committee.