International growth suits Ted Baker as profits take a big leap

The international expansion was accompanied by an 11 per cent rise in UK and Europe sales to £165.1m, despite competitive trading conditions.

Across the group, which has 316 stores and concessions worldwide, revenues improved by 18 per cent to £254.5m, with profits of £28.9m in the year to January 26.

The enigmatic founder and chief executive Ray Kelvin said the results were testament to the strength of the brand, its collections and “Tedication” of staff.

He added: “I am pleased to report another strong performance in what has been a very exciting year for the Ted Baker brand.”

The period saw the opening of its first stores in Tokyo and Beijing, while its second store in China followed after the year end in Shanghai.

Expansion in the UK, where it has 180 stores, will see Ted Baker open two outlets at Gatwick airport in June.

Shares have risen 20 per cent so far this year, although they were down 2 per cent following the results yesterday.

Panmure Gordon analyst Jean Roche said: “We continue to marvel at the evolution of the Ted Baker brand from a position just hovering above the high street to one of clear blue water between it and the high street.”

Ted Baker has carefully cultivated its image as a fashion brand for “dapper gents and sophisticated ladies”.

It has stand-alone stores in the Victoria Quarter and Meadhowhall, an outlet in York and stores within House of Fraser in Leeds, Huddersfield and Meadowhall.