River Island posts healthy profit rise

Accounts just filed at Companies House show that for the 52 weeks ended December 29, 2001, pre-tax profits climbed by 32 per cent to£38.5 million on turnover up 8 per cent to£325.5 million against a 53-week year previously.

The healthy profit rise, for the second year running, also comes on the back of a modernisation programme and design improvements.

Managing director Richard Bradbury said it was a great performance from his team. ‘We have put a lot of resource into design and working on the supply chain. The modernisation programme has also continued,’ he said.

River Island launched a transactional Web site last week, and Bradbury claimed the initial reaction has been encouraging. ‘It will be an important medium for us,’ he said. The site follows the launch of a catalogue business last year. The catalogue is now distributed four times a year.

Last year, River Island opened one new store, as well as two concessions in the Republic of Ireland. Three shops were relocated and nine refurbished.

This year, Bradbury said a handful of stores have been opened, while refurbishment and relocation - particularly of smaller shops - continues.

The latest store opened last weekend at Basingstoke in Hampshire, and continues with the Dalziel & Pow-designed shopfit introduced at Brent Cross last year.

River Island’s trading success is understood to be continuing this year.