Strong online growth drives Ted Baker's revenue up 24.5%

A 63.6% jump in online sales and strong retail sales at home has boosted Ted Baker's overall revenue by 24.5%.

The FTSE 250 company posted its interim results for the 28 weeks to 15 August.

Group revenue rose from £182.2m to £226.8m, spurred on by online sales of £22.9m.

Sales in the UK and Europe also helped drive the group’s overall result, with the top line reaching £120.9m, up 14.7%

As a result the company saw a rise in profit before tax of 14.6% to £17.8m and is proposing an interim dividend of 13.2p per share.

Ted Baker founder and chief executive Ray Kelvin CBE said the results are a testament to the growing strength of the company as a leading global lifestyle brand.

“Through the passion of our team, supported by on-going and careful investment in the brand, we continue to attract customers both in the UK and overseas, who recognise our unwavering focus on quality, design and attention to detail.”

Equity analyst at Hargreaves Lansdown, Keith Bowman, said its a solid set of results.

"Today’s results continue to underline the company’s expected long term growth story.

"Investment in the brand remains ongoing, significant room to expand its store outlets persists, whilst from an investment perspective, the growing dividend payment provides ongoing attraction.”