Record sales for Umbro
Sportswear firm Umbro celebrated its first year as a stock market-listed company by reporting record sales and profits today.
The improvement was driven by demand for replica England kits during the Euro 2004 football championships as turnover for last year lifted 10% to £140.4m (€204m) and profits tripled to £15.4m (€22.4m).
Umbro said it achieved all the targets outlined at its flotation in June, adding that it believed medium-term prospects were “exciting”.
The company announced in January that it had lost the contract for Chelsea kit from 2006, but the news was partly offset today by a four year sponsorship deal giving Umbro the distribution rights to replica kits and training products for Scottish club Rangers. It lost a deal with Glasgow rivals Celtic last year.
The early end of the Chelsea contract led brokers to cut forecasts for 2005 profits but the exit includes a £24.5m (€35.6m) payment from Chelsea in 2006.
Umbro is still kit supplier to more than 150 teams and 170 players globally, including Michael Owen after the England striker signed a new 15-year contract.
As well as an all-time high for sales of replica products, Umbro said the launch of its Evolution X range has boosted turnover of branded apparel, footwear and equipment. Overall sales growth in the UK was 8% in 2004.
