SuperGroup profits treble

"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," said chief executive Julian Dunkerton.

The retailer and wholesaler, whose shares have increased 60 per cent since it floated in March, made underlying pre-tax profits of 26.5m in the year to May 2, beating expectations. That compares with 7.9m made in 2008-09.

The outcome was driven by its ongoing store roll-out and buoyant sales both in the UK and overseas.

SuperGroup, which trades from 45 stand-alone Superdry and Cult stores in the UK, 56 concessions in House of Fraser department stores and has a wholesale business in 36 countries, said sales jumped 83.1 per cent to 139.4m.

Retail sales increased 75 per cent to 85m, with sales at stores open over a year up 17 per cent. Wholesale sales doubled to 54m.

It recently opened its 18th UK Superdry store in Sheffield's Meadowhall shopping centre, its largest at 6,300 sq ft. It also has concessions in House of Fraser stores in Hull and Leeds and earlier this year opened a Cult Clothing store in 9,000sq ft space in St Stephen's shopping centre in Hull.

The firm has a 20 stores a year opening programme and sees scope for 150 Superdry and Cult stores in Britain and Ireland. It is also targeting womenswear and the internet to drive growth.

Shares in SuperGroup, which listed at 500p, closed yesterday at 800p, valuing the business at 633m.