Dr Martens sees 13% sales rise in year to March 2015
Private equity group Permira, which acquired iconic shoe brand Dr Martens in 2013, should be happy about the label's performance - sales rose by 13% to £235.3m in the full year to March 2015.
The company reported growth in all regions and an increase in EBITDA, which was up 21% to £7m. The US is still Dr Martens' biggest single market, constituting 40.8% of group revenue. However, EMEA, including the UK market, now constitutes 43.1% of group revenue.
Dr Martens had 45 fully-owned stores at the end of the year and said that in the next financial year store openings are expected to accelerate across all regions. The company's net working capital at year-end was £37.6m.
The company said directors expect that the next year will show a further growth in sales with continued strong cash generation, despite significant investments in organisational changes and infrastructure.
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