Half year report, IAS 34 para 16A(b), explanatory comments on seasonality

Superdry Plc – Half year report – 26 October 2019

Industry: retail

Explanatory Notes to the Interim Financial Information (extract)
4. Seasonality of operations
Due to the seasonal nature of the Retail segment, higher revenues and operating profits are usually expected in the second half of the year. The weighting of higher revenues in the second half of the year is a consequence of the brand’s strength in cooler weather categories, such as outerwear, which also carry higher average selling prices. Operating profits therefore benefit from operating cost leverage, particularly in the Group’s stores. Wholesale seasonality is more evenly spread across the year.

In the financial period ended 27 April 2019, 47.6% of total revenues accumulated in the first half of the year, with 52.4% in the second half. This corresponded to 30.8% of underlying profit before tax in the first half of the year and 69.2% in the second half.