Fred Perry reports profit growth, revenues up 10 percent

British sporting and fashion brand Fred Perry reported a 4 percent increase in its annual profit before tax to 16.3 million pounds.

The company’s revenue for 2023 increased by 10 percent to 149.1 million pounds, gross profit rose to 76.9 million pounds with a gross margin of 51.6 percent.

In a statement, filed on Companies House UK, the company said: “2023 built on the success of 2022 and showed a continued growth in revenues putting the business’s trajectory back in line with pre-Covid expectations and working alongside this was the strengthening of the gross margin.”

During the year under review, Fred Perry closed two stores in the UK based at London’s Coal Drops Yard and Dartford’s Blue Water shopping mall and one store in Toronto, Canada.

The brand was founded by triple Wimbledon champion Fred Perry in 1952.