SuperGroup hit by costs

first_img whatsapp Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today SUPERGROUP shares dived yesterday as a warning over the rising costs of materials spooked investors despite a healthy profit update. The company – which owns the popular Superdry brand – has seen its shares soar since they were floated at 500p in March – raising £395m to bankroll its expansion.It made an underlying pre-tax profit of £13.5m in the six months to 31 October. That compares with analysts’ consensus forecast of £13.2m. SuperGroup said: “The autumn/winter collection has been well received by our customers in the UK and overseas, and our owned and franchised retail expansion is progressing as planned.”But some analysts went cold on the company after it warned that the cost of raw materials was putting it under pressure. Its shares dropped up to 17 per cent yesterday, eventually closing 10.9 per cent lower at 1.450p.The lack of an interim dividend was also seen by some as a disappointment. The retailer has opened four new shops and 13 concessions in the first half. Keith Bowman of Hargreaves Lansdown said: “Pre-tax profits appear to be at the high end of analyst expectations. Nonetheless, accounting issues and concerns over rising input costs – cotton prices in particular – appear to have taken the shine off the shares.” center_img Wednesday 15 December 2010 7:55 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share KCS-content SuperGroup hit by costs last_img