red dr martens Dr Martens walking on water in Asia as profits rise
Treat mum to a classy cocktail for Mother’s DayFiona the famous hippo was asked out on Twitter by a fellow hippo and it’s adorableDownload our app
23/10/2017 09:17:34Back to Business Home
Dr Martens has notched up rising full year sales and profits after the iconic footwear brand was boosted by its popularity in Asia.
The British company booked a 25% increase in group revenue to 290.6 million in the year to March 31, or 12% up on a constant currency basis.
Operating profit rose 27% to 37.5 million as the firm hailed a strong performance in Japan and South Korea.
Dr Martens’ Asian arm saw revenue rocket 43% to 66.4 million as it opened five new stores in Japan and two in Hong Kong.
In Japan alone, revenue was up 88% to 22 million.
Its best selling boot globally was the 1460 Black Smooth.
The results come after boss Steve Murray left the firm earlier this year as part of a “mutual decision”, leaving chairman Paul Mason in the hot seat while the search for a replacement gets under way.
Mr Mason said: “Despite a challenging retail environment, we have delivered double digit growth across all areas of the business and continue to see the investments in our people,
structure and operations as an integral part of our aim to deliver long term sustainable growth.”
Dr Martens pointed to challenging trading conditions in the US and “potential headwinds following Brexit” as stumbling blocks for growth.
Most Read in Business
222 senior staff paid a total of 62m at Bank of Ireland in 2017Senior executives in Bank of Ireland were paid almost in 2017, an average of each.
Lane to act on bank cultureSerious questions remain about the culture of banks and the extent to which boards and senior management are really living up to their promises of putting the customer first, the governor of the Central Bank has said.
Nama data case is ‘serious concern’Nama failure to provide Cork property developers Michael and John O with all personal data held on them is and frightening for citizens a legal expert has said.
Boylesports eyeing new international marketsBoylesports expects to have a significant highstreet presence in the UK and an online offering in at least one emerging market within the next year.
ECB inches toward start of rate hikesThe ECB is inching closer to a time when it will end its huge bond buying programme of pumping money into the financial system, which will signal the start of hikes in interest rates for the first time since the crisis, writes Eamon Quinn.