Seasalt sales soar as underlying profits rocket

Sales rose 23% to £51m in the year to January 27, 2018. It marks the ninth consecutive year of growth exceeding 20%.

Underlying operating profit was up 66% but profit before tax was affected by accounting rules and stood at £367,884. The business did not provide a monetary value for underlying operating profit or publish profit figures previously.

Margins improved, testament, according to chief financial officer Malcolm Macdonald, of the business’ strength of product and proposition.

Seasalt is one of a small group of lifestyle retailers beating the tough fashion market. Other, bigger lifestyle brands include Joules and Ted Baker. All three retailers have strong product handwriting and a clear brand identity, which may help to explain their successes in a poor market in which national chains are suffering.

Chief executive Paul Hayes said: “These are again a very good set of results. They clearly indicate strong growth momentum within the business founded on the quality and design of our products and the brand experience we offer our Seasalt customers across all channels.”

Seasalt said current trading was strong with like-for-like sales continuing to grow.