Suited for success - Moss Bros profits rise

29 September 2015 - Janet Bird

Suited for success - Moss Bros profits rise

Six months of strong performance, including a surge in ecommerce transactions, has boosted sales and profits for suit specialist Moss Bros.

The retailer has reported pre-tax profits of 2.8 million for the first half of the year, a rise of 47 percent on the same period last year.

Total revenue was up 9.7 percent to 61.3 million, while like-for-like retail sales also rose 9.7 percent to 51.99 million, helped by a 55 percent hike in ecommerce transactions. Such sales now make up 10 percent of group revenue, up from 7.8 percent at the same time last year. Mobile sales have shown particular growth, now accounting for 23 percent of ecommerce transactions.

The company's hire division, which makes up around 15 percent of total revenue, saw sales increase to 9.3 million during the period, a rise of 9.8 percent.

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