Sportswear Brands Boost U.K.-Based Pentland Group's '16 Profits
The British family-owned business behind the Speedo and Berghaus brands "recorded a stellar year despite the turmoil on the high street," according to Deirdre Hipwell of the LONDON TIMES. Pentland Group, which is controlled by the Rubin family, revealed in its accounts that its pre-tax profit "soared" from £185.1M to £282.8M in the year to Dec. 31. This was on revenue that was up 21% at £2.9B while its group operating profit rose by 50% to £331M. Pentland Brands, one of its main divisions, owns the rights to outerwear company Berghaus, England and Ireland rugby teams' kit manufacturer Canterbury, swimwear brand Speedo, tennis apparel company Ellesse and footwear brands Brasher and KangaROOS, among others. Some of Pentland's "standout successes" included "continued strong demand" for Speedo, while Ellesse recorded a 45% increase in sales last year (LONDON TIMES, 7/17).