Belgian company, Van de Velde, which have the Marie Jo, PrimaDonna and Andres Sarda as well as Rigby & Peller brands, reported a rise of just over 1% in turnover to approximately £189 million in year to December 31, 2017. The increase was boosted by better performance from swimwear and sports garments whilst the lingerie flagged somewhat.
However profit before tax fell by 10.1% to €47.5m from €52.8m the year before while consolidated EBITDA loss for the year was up 13.9%. The main reason for the dip were the increased cost initiatives to support future international growth.
Van de Velde reported it is in the midst of upgrading its ICT and ecommerce infrastructure and reinforcing its training of employees.
