Paul Smith sees profits soar


Paul Smith saw profits jump 22% to £15 million for the year ended June 2008.


Sales rose by almost 15% to £150 million over the year. UK sales made up £55.7m of total sales while European sales were £44.2m and the rest of the world £49.8m.

“Both menswear and womenswear sales have continued to benefit from good sell-through and strong prior season deliveries.”
Sir Paul Smith

Sales partly benefited from new store openings in Leeds and in Heathrow’s Terminal 5.
Sir Paul Smith took home a salary of £3.9m over the year, up from £3.6m the previous year. Smith also shared a £627,000 dividend with his Japanese business partner, who took a stake in the company in 2006.

In a statement in the accounts filed at Companies House, Sir Paul Smith said:
“Both menswear and womenswear sales have continued to benefit from good sell-through and strong prior season deliveries. The group continues to grow wholesale sales across all collections and all major markets.”