Profits double at Cotton Traders

COTTON Traders, the sports clothing and leisurewear company founded by former England rugby captains Fran Cotton and Steve Smith, doubled profits last year, it emerged today.

Sales at the company – which is owned by the duo and high street giant Next – also rose, from £62.2m to £63.9m in the 12 months to January 1 this year.

Profits before tax rose from £1.04m to £2.39m and shareholders’ funds increased from £7.2m to £8.9m.

Sales at Cotton Traders, which is based in Broadheath near Altrincham growth came from an expanded retail portfolio – 23 shops were opened last year taking the total to 94.

As well as its shops, more than half of the firm’s sales come from mail order and the Internet.

During the year retail sales grew from £19.2m to £21.6m, more than off-setting  a £500,000 fall in mail order sales, which were £39.6m.

In the directors’ report accompanying the accounts, the directors say: “The Cotton Traders brand is well-established and the company remains committed to maximising the brand’s profitability.”

The company was set up in Altrincham in 1987 and now employs more than 800 people. Next, which has guaranteed the firm’s overdraft and helps with product sourcing, invested in the business in 1997.

It supplies kit to Sale Sharks Rugby Club and produces a clothing range under license for drinks brand Guinness.