Pentland Group has not been trading on the stock exchange for many years, but unlike some other big groups that prefer to hide them, it continues to provide the main highlights of its financial performance. Last year's figures showed considerable improvements in terms of sales and profits. Pre-tax earnings jumped by 36 percent to £85 million (€106.4m-$144.7m) on a 10 percent increase in total revenues to £1.9 billion (€2.38bn-$3.23bn).
On a comparable basis, excluding acquisitions, sales went up by 8 percent, driven by the growing internationalization of the group's various brands. Operating profit before amortization of intangible and exceptional items grew by 39 percent to £124 million (€155.3m-$211.1m).
The results include those of JD Sports Fashion, in which Pentland owns a controlling 57 percent stake. It owns JD, Blacks, Millets and a growing number of outdoor and fashion retail chains. As previously reported, the total revenues of the increasingly international retail group rose by 9 percent last year to £1.3 billion (€1.67bn-$2.21bn), mainly driven by its core sports chains.
Revenues from Pentland Brands and other non-retail businesses rose at a faster pace of 11 percent to £590 million (€738.79m-$1,004.49m), fuelled by record turnover at Speedo, Lacoste Footwear and Ted Baker footwear. Sales increased also for other brands such as Berghaus, Ellesse and Kangaroos, among other Pentland brands, which include the likes of Canterbury and Mitre in the sporting goods sector.
Andy Rubin, chief executive of Pentland Brands, indicated that part of the progress was due to increasing internationalization of his group. Sales in the Asia-Pacific region have come to represent 20 percent of total revenues and China has become one of the top ten markets.
He also attributed the good performance of last year to many years of continued investment in people, product and marketing. “We haven't cut a single marketing or training budget since the Great Recession started in 2008,” he told us.
Among the highlights, Pentland said that Speedo recorded particularly strong growth in the U.K. and China, with its Sculpture range achieving growth of 39 percent. Canterbury, which was previously part of JD Sports Fashion, is now fully consolidated into Pentland's results, strengthening Pentland Brands' position in Australia and New Zealand where Canterbury's operations are now fully owned by the group.
Pentland Group ended the last year with net cash of £119 million (€148.55m-$202.78m) and net assets of £597 million (€745.29m-$1,017.37m).
As previously reported, Pentland scored in May as one of the top ten “Great Places to Work” in the U.K. It was subsequently honored in Rome as one of the top 25 Best Workplaces in Europe. Owned and run by the Rubin family in its second and third generation, Pentland got an additional recognition in Barcelona as “Top European Family Business of the Year.” Similar awards went to Mango in Spain, Villeroy & Boch in Germany, Campari in Italy and Faiveley Transport in France.
