Swimwear sales boost Pentland
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Three-quarters of last year's Olympic swimming medals were won in Speedo costumes, while three out of the four goalkeepers playing in the semi- finals of Euro 96 wore Reusch gloves, according to Pentland, which owns both brands. They contributed to a big jump in profits at the sports and leisure group, which also boasts Ellesse, Mitre and Berghaus among its stable of brands.
Pentland's reported profits were devastated by a one-off pounds 40.4m charge relating to the disposal of its US consumer goods subsidiary Woods Industries, but before exceptional items profits in the year to December rose 28 per cent to pounds 36m (pounds 28.1m). The dividend rose 6 per cent to 3.5p.
The company also announced it had recruited Nicholas Webster from William Baird to become finance director, succeeding Frank Farrant, who indicated his intention to leave last year. Meanwhile, Tim Score, group financial controller at LucasVarity, will become finance director at William Baird.
Stephen Rubin, chairman, said the strong profits performance vindicated the company's decision, following a strategic review, to focus on its core sports, leisure and fashion markets. He said: "This is the activity on which we shall build Pentland's future prosperity." Pentland's shares closed 3p higher at 108p.
Sales at Speedo were boosted by the launch in March 1996 of Aquablade, a material Pentland described as "the fastest fabric through the water ever developed". The company said three of the four new world records at last summer's Olympics were achieved by swimmers wearing Aquablade.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments