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Ted Baker FY Pretax Profit Declines; Revenue Up 5% In Constant Currency

Ted Baker Plc (TED.L) reported profit before tax of 50.9 million pounds for the 52 weeks ended 26 January 2019 compared to 68.8 million pounds, prior year. Earnings per share was 91.3 pence compared to 118.3 pence. Profit before tax and exceptional items was 63.0 million pounds compared to 73.5 million pounds. Adjusted earnings per share was 114.1 pence compared to 126.9 pence.

Fiscal year Group revenue increased by 4.4% (5.0% in constant currency) to 617.4 million pounds from 591.7 million pounds, driven by a 4.2% (4.8% in constant currency) increase in retail sales to 461.0 million pounds and a 4.8% (5.7% in constant currency) increase in wholesale sales to 156.5 million pounds. The Group gross margin was lower at 58.3% compared to 61.0%.

The Board recommended a final dividend of 40.7 pence per share, making a total for the period of 58.6 pence per share, a decrease of 2.5% on the prior period. Subject to approval by shareholders at the Annual General Meeting to be held on 12 June 2019, the final dividend will be paid on 22 June 2019 to shareholders on the register on 18 May 2019.

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