Barbour posted strong profits for the fiscal year ended April 30, despite a 10.2 percent drop in sales.
Sales for the UK brand declined from £ 242.8 million a year ago to £ 218 million as the company suffered from the pandemic.
“The effects of the Covid-19 pandemic were clearly felt throughout the year, with revenues and absolute margins falling compared to last year,” the company said.
It continued, “Given the great uncertainty in global markets and intense competition for dwindling demand, it has been very difficult to operate profitably without focusing on adequate cost reductions and investing in strong relationships across the product lifecycle.”
Barbour remains profitable
Still, the brand managed to increase its pre-tax profit from £ 35.8 million a year ago to £ 36.3 million.
Net income decreased slightly to £ 27.9 million from £ 28.9 million.
The company stated that its profitability was “an ongoing achievement”.
It added that its balance sheet remains “relatively strong” “despite the challenges of the pandemic,” with the company’s cash falling from £ 97.4 million a year ago to £ 95.4 million.
This translated post previously appeared on FashionUnited.nl.