Barbour pays founding family £30m in dividend after annual profits rise 26%
Barbour paid the founding family £30m in dividends last year after annual profits rose 26 per cent, accounts show.
The maker of wax jackets, beloved of country settings and a favorite of royalty including the Princess of Wales, has soared in popularity thanks to collaborations with stars like Alexa Chung.
Pre-tax profits for the year to the end of April rose from £36.4m to £45.8m, thanks to cost savings, exchange rate gains and higher interest rates, boosting returns on cash reserves.
As a result, it paid £30 million in dividends to the Barbour family, who founded the company in 1894 and still controlled it. No dividend was paid out last year.
Traditionally a staple of the posh country inhabited by royal families including the Princess of Wales (pictured), Barbour’s popularity has soared in recent years
Although profits rose, sales fell 6.2 percent to £321.8 million.
Performance outside Britain, Europe and North America was the most notable, up 22.5 percent to £81.4 million.
European sales rose from £79.5 million to £81.4 million, but UK sales fell 13 percent to £164.1 million.
“Despite the current uncertainty and market decline, we believe in the sustainable long-term growth of our business,” Barbour said in its annual accounts.
‘We believe there are many exciting and accessible markets around the world.’
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