Operating profits for fashion brand Barbour increased by 15 per cent from the previous year, from US $ 42.81 million to US $ 49.3 million, in the year ending 30th April 2024.
Despite what it called “relentless” cost and pricing constraints, the company, which is well-known for its famous wax jackets, attributed its success to foreign currency rates and efficient cost-cutting techniques.
Turnover actually fell 6 per cent from the “record” levels of the previous year, from US $ 428.12 million to US $ 401.9 million. Barbour blamed the decline on higher expenses and a “challenging” wholesale market.
Its total revenue for the year was US $ 42.56 million, up from US $ 35.95 million the year before, and its cash increased from US $ 132.8 million to US $ 149.4 million. Additionally, there were 1,175 employees instead of 1,132. To show its dedication to the Asia-Pacific region, Barbour established a facility in Singapore last year.
Asia-Pacific (APAC) is becoming a more significant market for the company’s brands, according to a report filed with the SEC and signed by Chair Dame Margaret Barbour. In order to provide the greatest service to its consumers and brand partners in this region of the world while upholding its fundamental principles and brand history, Barbour keeps investing in technology and logistics. To make sure that demand in this area is better satisfied, the company started an operation in Singapore throughout the year.