Pentland Group’s revenues rose 14.2 percent in 2012, with the London Olympics fueling growth for Speedo.
Warnaco is the licensee for the Speedo swimwear brand in North America, Mexico and the Caribbean.
Sales of the company's brands ( Berghaus, Canterbury, Mitre, Boxfresh and Red or Dead ) rose 6.8 percent. The retail division saw revenues rise 7.4 percent, excluding revenues from Blacks, which was acquired during the year. The acquisition dragged operating profits down 11.7 percent, while pre-tax profits fell 44.6 percent as a result of exceptional charges relating to the acquisition.
According to Pentland Chief Executive, Andy Rubin, “The business had delivered a record year for brands including Speedo, Lacoste footwear and Boxfresh. From a Pentland Brands perspective, we had a very strong year in 2012, particularly from a UK point of view, where we grew by 18 percent.”
“There’s no doubt the Olympics helped overall, but in summarising 2012 , I’d say it was really starting to deliver on the investments we have put into global growth over the last 10 years,” Rubin said.
