Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have s disabled. For the best experience of this website, please enable s in your browser

Jimmy Choo profits leap

Luxury brand Jimmy Choo enjoyed a boost to sales and profits in the first half of its financial year.

Adjusted EBITDA rose 19.5% to £37.4m for the six months ended 30 June. Adjusted EBIT grew 24.5% to £26.9m.

However, profit before tax rocketed by 174.2% to £18.1m.

Like-for-like retail sales increased by 3.5%, while total revenue rose by 16.5%. On a constant currency basis, total revenue was up 4.5%.

Jimmy Choo chief executive Pierre Denis said its performance resulted from “strong underlying cash conversion”, which allowed the business to deleverage (reduce the level of its debt by rapidly selling assets).

The business reported significant improvement in net debt.

Denis added: “Our long-term growth strategy is to nurture the brand’s unique DNA, to strive for excellence in business execution and to enhance client experience, in order to deliver superior growth and profitability, as well as leveraging the significant investments we have made in the business to date.

“We have continued to make good progress through the first half and are well positioned to deliver over the remainder of the year.”

The news comes after US firm Michael Kors agreed in July to acquire Jimmy Choo for £896m.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.