Ted Baker profits soar

Ted Baker has announced a 53 per cent rise in profits and said it was confident of a Christmas rush.

A 26 per cent rise in sales helped pre-tax profits top City forecasts at £4.6million for the 28 weeks to August 9.

The group, which has wholesale and licensing operations as well as a chain of shops and concessions, said reaction to its autumn and winter collections had been strong.

Finance director Lindsay Page added: 'Barring any unforeseen disaster, I would be confident of a strong Christmas.

'We have a great set of clothing - that's the key thing for us - and I think the consumer, particularly the younger consumer, has been resilient.'

He said the results had benefited because customers asked for orders of autumn and winter lines to be delivered early, so their contribution fell in the first half rather than the second.

The London-based company, which has stores in Paris, New York, Miami and San Jose, California, as well as Britain, said the strong first half would underpin its strategy of developing as a global brand.

Ted Baker plans to take its range to department stores in Australia and New Zealand next year.

In recent weeks, the company has opened five new concessions in department stores and a new branch in Bicester, Oxfordshire. One store in London was moved to a site with almost twice as much floor space.

It has combined two Manchester stores at a single site in The Shambles, off Exchange Square, its second largest to date.

Ted Baker shares rose by 8p at 388.5p after the announcement.