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SuperGroup posts 15% annual profit slide Thursday, 12th July 2012
SuperGroup has flagged accounting and loose management controls for a significant 15 per cent drop in annual profits.
Pre-tax profit fell 14.7 per cent to £42.8 million in the year to 29 April, in spite of revenue rising by 31.9 per cent to £313.8 million.
Over the last three years, the company has upped its UK store portfolio to 79 from 42, with international store numbers rising from 29 to 101.
Earlier this year, an accounting blunder and stock shortages cost the company £9 million in sales revenue and added distribution costs.