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.

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.’