Trespass defies turnover dip with leap in profits
Outdoor clothing specialist Jacobs and Turner, the company behind the Trespass brand, more than quadrupled profits despite a slight dip in turnover.
The company, which is owned by brothers Afzal and Akmal Khushi, posted pre-tax profits of £9.71m in the year to 27 June 2021 against £2.23m in the previous 12 months.
Turnover was 4% lower at £98.1m from £102.6m, “mostly” because of the impact of the pandemic.
Staff numbers fell to an average 1,708 in the year to last June, from 1,935 in the prior 12 months.
In notes to the accounts, the company said it benefited from government support provided through various schemes, such as the coronavirus job retention scheme, grants received for closed retail stores, and business rates relief given to the retail sector.
“The directors have also used this time productively to negotiate with landlords on store rentals, the benefit of which together with supply chain optimisation and cost savings will help offset some of the future inflation cost increases expected,” said a statement.