Fashion retailer on super highway

The retailer and wholesaler, which has seen its shares rise 60 per cent since the group floated in March, made an underlying pre-tax profit of 26.5m in the year to May 2, up from 7.9m the previous year.

Chief executive Julian Dunkerton said profits were driven by the store roll-out programme and buoyant sales both in Britain and overseas.

The group plans to open another 20 stores this year although it declined to say how many will be in Yorkshire for competitive reasons.

The group opened its largest Superdry store in Sheffield's Meadowhall shopping centre earlier this year, at 6,300 sq ft. It also has a site in Leeds.

The group recently opened a Cult Clothing store at the front of St Stephen's shopping centre in Hull.

Chief executive Julian Dunkerton said: "There is huge potential for this business both in the UK and internationally and, with a strong growth strategy, we are confident of achieving another successful year."

Mr Dunkerton shared 105m of the 120m IPO proceeds along with

SuperGroup's other management.

He sold a 20 per cent stake for 80m in March, and his 33 per cent share of the firm is now worth around 210m – up from 130m at the time of the float.

The company, which trades from 45 stand-alone Superdry and Cult stores in Britain, 56 concessions in House of Fraser department stores and has a wholesale business in 36 countries, said sales jumped 83 per cent to 139m.

It is planning to expand its womenswear ranges and expects another record season from its wholesaling arm.

Seymour Pierce analyst Freddie George said the firm's results were "outstanding".

"It is clear that the company is gaining traction in womenswear, the international opportunity has been significantly under-estimated and the internet is likely to be an important driver of growth.

"The main brand, Superdry, remains very fashionable and is clearly differentiated from competitors in a growing part of the market."

The group said its new year had started well.

Mr Dunkerton said he is confident of continued growth despite signs British consumers might be turning cautious as the Government starts to slash spending and hike taxes to cut a record budget deficit.

He said the company, unlike similar fashion brands, would sustain its growth because it was hitting a gap in the market for quality, value for money, branded clothing that is not reliant on one product or one logo.

Mr Dunkerton said there was "an expectation" the company, which ended the 2009-10 year with net cash of 28m, will pay a maiden dividend this year.

From the beginnings of a cult...

SuperGroup began with the founding of Cult Clothing in 1985 by Julian Dunkerton and a former business partner. The original Cult Clothing store led to the creation of others across the country, many of them in university towns.

In 2003, Mr Dunkerton joined forces with designer James Holder who had previously founded the Bench brand, to develop a new in-house brand, Superdry.

The Superdry brand has gained recognition in the UK and overseas and underpins the growth of the business.

Following the introduction of Superdry into Cult Clothing stores, a second store format, branded as Superdry and dedicated to selling Superdry products was launched in 2004.

Recognising the potential of the Superdry brand at home and abroad, the group's UK and international wholesale business was started.

Superdry is now sold in over 20 countries across Europe, Asia, Australia and the Americas.