Pentland, the company behind well-known clothing brands like Speedo, Berghaus and Red or Dead, has announced that it has achieved more than £2 billion in sales for the first time ever.
The firm has seen a 14 per cent in revenues, bringing the total to £2.2 billion. The success has been mainly due to the company's highly-popular Speedo swimwear brand.
The firm owns an aqualab in Nottingham, which is used specifically to test its Speedo range. The brand's latest collection, called Sculpture, is said to have helped the range achieve record sales. The recent "Get Speedo Fit" campaign starring Gabby Logan and Gethin Jones has also contributed to the positive results, reports the Telegraph.
Pre-tax profits for the group also lifted by 92 per cent to £164 million.
Positive results at sportswear retailer JD Sports Fashion helped provide a boost for Pentland, which owns a 57 per cent stake in the business. In April, JD Sports reported a 22 per cent rise in profits to £100 million, thanks to a renewed demand for trainers in the UK.
Stocks in JD Sports closed on the London Stock Exchange at 689.50 on Friday, June 26th.
Investing in the long term
Commenting on Pentland's chair Stephen Rubin explained that the company looks for long-term investment.
"During the financial crisis, we did not cut a single marketing or research budget and continued to invest in technology when other quoted companies couldn't. Now we are starting to see those benefits," he said.
Pentland is expecting to see a further boost in September and October during the Rugby World Cup. The company's Canterbury brand makes the kit for the England and Ireland national teams.
The brand was purchased from JD sports in 2012 and it has recently completed a deal with House of Fraser to sell casual menswear in the department stores.
Mr Rubin also commented on the possible Brexit. He says he thinks the UK should remain in the EU, as there were benefits to trade agreements.
"We should not be putting all our focus on the EU and instead look more at growing economies such as China and Latin America," he added.
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