Yahoo Finance Dr Martens celebrates 'another outstanding year' as profits rise by a third
Dr Martens has reported a 33pc increase in earnings before interest, taxes, depreciation and amortisation (ebitda) to £50m, citing strong sales in Europe and the Middle East.
Group revenue was up 20pc to £348.6m for the year ending March 31, compared to £290.6m the previous year.
The footwear chain, whose distinctive boots date back to the 1960s, announced it was back in fashion with double-digit growth in revenues and profits in all regions.
It boasted strong performance across all business channels, with 40pc of its revenues coming from selling direct to consumers.
Revenues from direct sales came in at £140.7m, up 26pc from the previous year.
Retail revenue rose 23pc to £97.1m and online increased 35pc to £43.6m.
The retailer opened 25 stores over the 12 months, including nine in the UK, and hailed its 1460 Black Smoothbest boot as its global bestseller.
Kenny Wilson, who was appointed chief executive in July, said it was “another outstanding year” for Dr Martens.
“We are an iconic brand that does things in our own unique, disruptive way and that is unifying our consumers across the globe. The business’ investment in our [direct-to-consumer] channels, both in terms of retail stores and e-commerce, is bearing fruit, and these will remain priority channels for us,” he said.
Dr Martens was left without a chief executive in October last year when Steve Murray resigned, leaving chairman Paul Mason to step in on an interim basis.
Mr Wilson joined the boot brand three months ago, after more than 20 years of experience in leading high-profile consumer brands, including Levi’s and floral fashion designer Cath Kidston.
The boot brand chain was founded more than 50 years ago by a Northamptonshire-based family who sold a majority stake to private equity firm Permira in 2013, a deal worth £300m.
Dr Martens has 94 stores worldwide and is often endorsed by celebrities such as David Beckham, Kayne West, Gigi Hadid and Pharrell Williams.
