SuperGroup says trading well as profits rise

LONDON, Dec 12 (Reuters) - SuperGroup (Other OTC: SEPGF - news) , the British company behind the Superdry fashion brand, said Christmas trading had got off to a good start as it posted a 22 percent rise in first half profit, driven by strong growth in both retail and wholesale sales.

"The first weeks of the Christmas trading period have been encouraging and demonstrated a continuation of the trading momentum delivered during the first half," the firm said on Thursday.

It said the wholesale spring/summer order book for 2014 had closed up 26 percent on 2013, demonstrating the international growth potential of the brand.

SuperGroup's shares have more than doubled over the last year as trading improved and management rebuilt credibility after a string of profit warnings in 2011 sent its shares plummeting.

The firm made an underlying pretax profit of 17.9 million pounds ($29.30 million) in the six months to Oct (KOSDAQ: 039200.KQ - news) . 27, up from 14.7 million pounds in the same period last year.

Sales of its trademark T-shirts, hooded tops, check shirts and jogging bottoms rose 21.4 percent to 192.1 million pounds.

Retail sales were up 19.3 percent, with sales at stores open over a year up 8.1 percent. Wholesale sales increased 25 percent. Gross margin rose 50 basis points to 56.8 percent.

The stock closed Wednesday at 1,254 pence, valuing the business at 1.01 billion pounds.