The British family-owned business behind the Speedo and Berghaus brands has recorded a stellar year despite the turmoil on the high street.
Pentland Group, which is controlled by the Rubin family, has revealed in its accounts that its pre-tax profit soared from £185.1 million to £282.8 million in the year to December 31. This was on revenue that was up 21 per cent at £2.9 billion while its group operating profit rose by 50 per cent to £331 million.
The north London-based group said the results were due to record performances from several of its brands, as well as its focus on “building its presence in priority markets and its relationship with retailers and partners”. Pentland describes itself as a “global brand management company” with both wholesale and retail businesses in the sports, outdoor and fashion sectors.
Pentland Brands, one of its main divisions, owns the rights to Berghaus, the outerwear company; Canterbury, which makes the kit for the England and Ireland rugby teams; Speedo; Ellesse; and the footwear brands Brasher and KangaROOS, among others.
The group’s brands have more than 10,000 dedicated retail areas worldwide and its products are sold in 200 countries. It operates more than 800 standalone shops through its retail division which also owns a 57 per cent stake in JD Sports Fashion, the premium sportswear retailer whose revenue last year jumped 31 per cent to £2.3 billion. The strong results come as many retailers in the UK struggle with higher wage and business rates bills, input cost inflation after the fall in the pound and volatile consumer demand.
Advertisement
Sports Direct, the nation’s largest sportswear retailer, is expected to reveal a sharp fall in annual profits this week after failing to properly hedge itself from the fall in the pound or end concerns over its corporate governance.
Some of Pentland’s standout successes included continued strong demand for Speedo, the swimwear brand, while Ellesse, the tenniswear brand, recorded a 45 per cent increase in sales last year.
Pentland paid a dividend of £25 million to its owners, the same as the year before, and ended the year with net cash of £375 million, up from £300 million.