Exciting results against challenging backdrop, Ted Baker
22 Mar '12
3 min read
Adjusted basic earnings per share excluding exceptional costs increased by 17.8% to 48.9p (2011: 41.5p) and basic earnings per share increased by 1.7% to 42.2p (2011: 41.5p).
Exceptional costs incurred during the year of £2.8m (2011: nil) are in respect of rent for stores that will not commence trading until 2012, set up costs in relation to our expansion into China and a provision for bad and doubtful debts in respect of our exposure in Greece.
The Group's net cash position at the end of the year was £1.8m (2011: £13.5m). The reduction in cash was due to our investment in inventory and capital expenditure in anticipation of the planned expansion of the Group in the coming year.
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