Henri Lloyd fashions profit increase
FAMILY-owned fashion and marine clothing brand Henri Lloyd has posted a surge in profits despite a fall in sales.
The Salford company which sponsors and produces a clothing range for Olympic sailing hero Ben Ainslie is run by brothers Martin and Paul Strzelecki, sons of founder Henri.
During 2011, the company which has subsidiaries in Poland and North America said profits rose from £72,970 to £657,906 despite a 5% fall in turnover in the year to £25.7m from £27.2m in 2010.
In their trading review for the accounts of Henri-Lloyd International the Strzeleckis say the company is in a “satisfactory” position with shareholders’ funds increasing from £9.2m to £9.5m.
They added: “The directors continue to follow strategies to react to market changes to ensure the continued stability and strength of the company, enabling it to take advantage of opportunities as they occur in an economically challenging market place.”
The group said it had had to react to “significant restructuring” in the wholesale market for UK fashion and sailing by strengthening relationships with retail partners and supply chain initiatives.
“Development of the brand remains a key focus to maintain where possible develop the company in a challenging economy. Further development of overseas markets is crucial to the group’s continuing success and we now have a distributor in most European countries, the US and Australia,” the company said.
Last month the Worsley-based company unveiled a new recyclable product range. Called Blue Eco the range which includes jackets, hat, scarf and gloves, is made with an advanced recycled polyester fabric, which when worn can be returned for recycling.
