Ted Baker cautious despite profit rise

Ted Baker has reported a 5.4% rise in pre-tax profits to 7.7m for the six months to August 9. However, the fashion retailer has issued a caution on current trading.

Ted Baker has reported a 5.4% rise in pre-tax profits to £7.7m for the six months to August 9. However, the fashion retailer has issued a caution on current trading.

Revenues for the period grew by 8.2% to £71.6m, compared with £66.2m the previous year. The company says the initial response to its autumn/winter clothing collections has been positive, but trading in the last two weeks has been adversely affected by a period of warm weather.

Ted Baker founder and chief executive, Ray Kelvin, says: “The board is mindful of the uncertain economic environment and we remain understandably cautious about trading in the second half of the year.”

The company has stores and operates concessions across the UK, the US, Europe and the Middle East. The retailer opened two new stores during the first half of the year and has opened shops in Liverpool and Bristol since then. It also plans to open another two stores in the new White City development in West London.

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