SuperGroup, the UK clothing retailer, reported a 18 per cent rise in full-year profits as it announced plans to open a standalone stores for its Superdry Sport range.

The company said it would expand Superdry sportswear to develop it into a “global lifestyle brand”. Superdry clothing is already sold in 60 countries.

Full-year profits before income tax rose 18.4 per cent to £87m in the year to the end of April with like for like sales – a key metric – up 12.7 per cent. SuperGroup will also raise its ordinary dividend by nearly 21 per cent to 28p.

The group also managed to break even in its North American market, where it opened seven new stores.

Euan Sutherland, chief executive, said:

The Group is globally diversified and financially strong and we remain confident in our strategy to further embed Superdry’s position as a global lifestyle brand.

Investment in infrastructure is underpinning our global growth plans and creating future leverage opportunities while ongoing product innovation and new social and digital marketing campaigns are introducing new customers to the Superdry brand.

Shares are down over 11 per cent so far this year to £14.95p.

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