Oroton Group has reported a 12 per cent rise in group revenue for the 2011 financial year, with like-for-like store sales also up.
Group revenue or the company, which operates luxury brands Oroton and Polo Ralph Lauren, was $164.4 million for the year ended July 30, 2011, compared with $146.6 million in 2010. Like-for-like sales increased by seven per cent overall, with Oroton sales performance up four per cent and Ralph Lauren up 10 per cent.
Earnings before interest and tax (EBIT) was $36.5 million, up 13 per cent on the previous corresponding period, with net profit after tax (NPAT) up eight per cent to $24.8 million.
Oroton Group chief executive Sally McDonald said she was pleased with the FY11 results, and said the company will continue to focus on its retail rollout in Asia as well as its online store going forward.
“FY11 was a great year for the Oroton Group, with growth in sales, margin and profit, positive like-for-like sales and the commencement of our Oroton store rollout in Asia. The Asian region represents a significant opportunity for oroton over the long term and early results are encouraging,” she said.
“In addition, our Oroton.com online business which we launched in 2006 continues to be our fastest growing and largest store, at more than six per cent of total Oroton brand sales and with much further potential.”
McDonald also revealed that Oroton will look to expand its retail presence as part of a “long-term strategy”, which will include the launch of approximately four new Oroton stores per year in Asia “for the next several years”.
“The group's sales in the first seven weeks of FY12 have exceeded expectations, but as always we remain vigilant to the macro environment ahead. We have so far committed to one additional Oroton store in Asia [set to launch in November], and planning for a further three store sites in Singapore, Malaysia, and Hong Kong this year,” she said.
“In addition, to these four Oroton Asia stores, we will open four Ralph Lauren concession stores in domestic department stores and one Oroton store in Australia, to bring a total of nine new stores for the group in 2012.”